A novel miniature superconducting quantum interference device magnetometer with direct readout electronics has been developed. A high flux-to-voltage transfer factor of up to2500  &mgr;V/&Fgr;0is achieved without additional positive feedback (&Fgr;0is the flux quantum). A flux resolution of8×10−7 &Fgr;0/Hz1/2, corresponding to a magnetic moment sensitivity of approximately2×10−20 A m2/Hz1/2, has been measured. This magnetometer can be used to study the dynamic magnetization properties (including nuclear magnetic resonance and magnetic resonance imaging) of micron and submicron size particles and for high-resolution surface magnetometry. ©1997 American Institute of Physics.