A high-frequency magnetic probe is designed and developed on the XuanLong-50 (EXL-50) spherical torus to measure high-frequency magnetic field fluctuation. The magnetic loop, radio filters, radio-frequency (RF) limiter, and data acquisition system of the probe are comprehensively examined. The fluctuation data from the EXL-50 plasma are analyzed in the time–frequency domain using fast Fourier transforms. Moreover, distinct high-frequency instabilities are detected using this diagnostic system. In particular, significant frequency chirping is observed, which is consistent with the bump-on-tail drive instability predicted using the Berk–Breizman model.