The paper aims at the development of a method for the removal of baseline drift of fetal magnetocardiograms. The described method is based on wavelet analysis and uses the Stationary Wavelet Transform (SWT). The performance of the method is ensured through the appropriate preselection of two parameters: the mother wavelet used for the computation of the SWT and the number of decomposition levels, selected in accordance to the sampling frequency of the magnetocardiogram (MCG). The method is robust and can be used in an automatic processing system.