The paper presents a new approach to obtain information on magnetic anisotropy in Si–Fe grain oriented ferromagnetic steel based on the observation of the magnetic Barkhausen noise (MBN). Until now, in the literature one can only notice the MBN study of magnetic anisotropy in steels carried out in a single time or frequency domain. However, due to the observed high variability of the dynamics of the MBN phenomenon over its occurrence period, depending on the steel properties, the idea of utilization of combined time and frequency representations to obtain new or supplementary information arises. For this purpose, the MBN phenomenon was observed in various directions for steels with oriented magnetic properties. Then, using the short-time Fourier transform, time-frequency (TF) distributions were determined and features vectors enabling the quantification of crucial information were determined. Before performing the final experiments, a series of tests were carried out for different measuring conditions. As a result, it was possible to adjust the conditions enabling us to obtain the highest possible sensitivity for MBN and discrimination level between directional properties in the material. Then, an algorithm of detailed analysis and division of the TF representation into subranges was proposed, enabling the extraction of more detailed information about the phenomena occurring during the magnetization process. This allowed us to clearly indicate and then separate three areas of MBN main activity. Finally, the obtained angular distributions of selected features were presented and discussed, and further conclusions were given.