An online measurement method is proposed in this paper, and a system is established for detecting the excitation impedance of current transformers (CTs) based on Norton’s theorem. The theorem is carried out by connecting a resistance and an inductance at the secondary side port of the CT to get the equations for calculating the impedance. The iterative method is used to solve the equations, and the solution is revised to consider the nonlinearity of the core. The main variable in the equations is the variation of the secondary current with the resistance or inductance. To obtain the secondary current variation accurately, which is less than 1‰ of the current, a differential method is proposed, which is based on charging two capacitors and measuring the difference of their voltages instead of measuring each current separately first and then obtaining the current variation by subtraction. This is equivalent to saving two currents first and then measuring the current difference. The differential method avoids the problem of error amplification in the process of measuring two currents separately first and then subtracting them to obtain the current variation and solves the problem that two currents do not appear simultaneously. The results verify the correctness and accuracy of the proposed method and system. The acquisition of the excitation impedance is the basis for obtaining the working characteristics of CT cores, including magnetic and loss characteristics, as well as the error of CTs.