The roll- and pitch-induced eddy currents create a magnetic field that contributes to the total magnetic
signature of naval vessels. The magnetic signature is of concern, as it exposes the ship to the threat of modern influence mines. It is estimated that the eddy current is the second most important source contributing to a ship’s underwater magnetic field following the ferromagnetic effect. In the present paper, the finite element (FE) method is used to predict the eddy current signature of a real ship. The FE model is validated using the measurements of the Canadian research vessel CFAV QUEST at the Earth’s Field Simulator (EFS) in Schirnau, Germany. Modeling and validation of the eddy current magnetic signature for a real ship represents a novelty in the field. It is shown that the characteristics of this signature depend on frequency. Based on these results, a ship’s degaussing system could be improved to cancel both the ferromagnetic and the eddy current contribution to the magnetic signature simultaneously, reducing the susceptibility to sea mines.