The Cascade SmallSat and Ionospheric Polar Explorer (CASSIOPE) satellite is to be launched in late 2012. On board this satellite will be a suite of eight scientific instruments composing the enhanced Polar Outflow Probe (ePOP). The Radio Receiver Instrument (RRI) on ePOP will be used to receive high‐frequency (HF) (10–18 MHz) transmissions from ground transmitters such as the Super Dual Auroral Radar Network (SuperDARN) array. Modeling of the characteristics of the HF signal received at ePOP for various ionospheric conditions has been undertaken in preparation for this RRI‐SuperDARN experiment. The effect of ionospheric electron density enhancements and depletions on signal parameters such as polarization and mode delay difference has been modeled. It has been found that at HF the polarization state of the received signal is highly sensitive to regions of locally enhanced or depleted electron density in the ionosphere. In particular, analysis of the orientation angle of the received signal, which changes because of Faraday rotation as the spacecraft passes over a ground transmitter, will allow detection of small‐scale electron density structures (on the order of tens of kilometers) with electron densities as little as 10% different from background values. Because of the sensitivity of the polarization of HF transionospheric waves, the signatures of these small‐scale and relatively weak ionospheric density structures will be apparent. Larger and denser structures will also be detectable from both the polarization state and other signal parameters, such as signal delay. The modeling demonstrates that detailed analysis of the signal parameters received at the ePOP satellite will allow determination of the location, size, and density of structures in the ionosphere.