Abstract <p>We report experimental data and mathematic modeling results obtained with the aim of assessing the effect of biaxial mechanical loading on magnetic characteristics of 65G spring steel. The magnetic characteristics of the steel specimen included its magnetic hysteresis loop, whose harmonic spectrum was analyzed at different external load combinations. It has been shown that, in the region where magnetic parameters were measured, the specimen was subjected to a relatively uniform tensile stress. The load distribution over specimen sections shows that, in the case of uniaxial tension along the horizontal or vertical axis, the type of stress distribution remains unchanged provided there is no strong anisotropy. In addition, increasing the external biaxial tensile load has been shown to cause a decrease in coercive force, whereas under uniaxial load the coercive force rises and harmonic components undergo sharp changes (at a load near 50 MPa), which can be interpreted as evidence of residual internal stress redistribution processes in the material. Our results can be useful in ensuring safe operation of parts made of spring steel and provide a basis for designing a magnetic method of assessing loads of complex configuration.</p>