Purpose - The purpose of this paper is to develop a source reconstruction technique, applied to a case study in biomagnetism, using both evolutionary optimization and regularization techniques. Design/methodology/approach - The magnetic field, produced by a current dipole in a spheroidal domain modeling the head, is calculated. Although the model is very simple, the magnetic effect of a brain source is appropriately simulated. In order to solve the source identification problem, the following approaches have been implemented: a single-objective minimization of a residual function, based on an evolutionary algorithm, is applied first; then, the L-curve criterion for regularization is implemented by means of an iterative search. Findings - A variable number of unknown parameters, defining direction and magnitude of the current dipole, have been considered. As a consequence, several optimization problems are solved: a technique based on the use of the lead field matrix identifies the source with the smallest error. Eventually, an iterative procedure based on Tikhonov regularization is proposed. The algorithm is tested with and without noise affecting data. The results showed an accuracy comparable to that obtained independently with the optimization approach. Originality/value - A model problem in inverse biomagnetism, which is both simple and significant, has been formulated and solved. The magnetic source of brain activity is reconstructed in a fast way and with small errors by means of two techniques of field inversion