The NTS-1000B phase noise analyzer performs accurate measurements of phase noise in a minimal amout of time. Phase noise analysis is accomplished by demodulating the FM noise spectrum from the RF carrier, followed by digital spectral analysis of the noise power spectrum. The NTS-1000B Phase Noise Analyzer uses the proven “delay-line discriminator” measurement technique to accurately measure Phase Noise at offsets between 10 Hz and 1MHz. The NTS-1000B performs a precise calibration at the measured frequency before every measurement to insure measurement accuracy Precise calibration of the FM demodulator anad spectral analyzer is performed automatically prior to every measurement. No additional steps or test setups are required to accomplish the calibration. An internal calibration generator is used in conjunction with the FM demodulation to produce highly accurate, repeatable calibratioin signals.