Abstract: The present invention relates to a sensor and to a method for measuring torque and/or axial stresses applied to an object as well as a method for manufacturing magnetoelastic material to be used therefore. The sensor (20) comprises a magnetoelastic material and a sensing device (210) for non-contactingly sensing changes in permeability of the magnetoelastic material due to torque and/or axial stresses, said sensing device (310) comprising a coil system carrying out both an excitation and a pick-up function. The excitation frequency is so chosen that the pre-dominating process of magnetization of the magnetoelastic material will be small angle magnetization rotation, the excitation frequency being at least 300 kHz.