The features of identifying and evaluating the parameters of surface cracks by the amplitude and phase change of the spectral components of the signals of a magnetic control system with a two-component vibration-induction primary transducer (VIT) are considered. The structure of the magnetic control system and the device of a two-component VIT are given. Spectral diagnostic signs of the signal of measuring information on the normal and tangential control channels during the movement of the VIT over the crack are determined. Estimates of the threshold sensitivity to small cracks, the depth of occurrence of subsurface cracks, and the range of variation of the working gap are given. It is shown that it is possible to obtain approximate estimates of the depth and width of a rectangular surface crack by the lowering gradient method based on statistically constructed regression dependences of depth and width on the amplitude values of the main significant harmonics of the normal and tangential control channels.