If the major axes of the helical and vertical field coils of a torsatron plasma confinement device are not aligned to within ∼1% of their major radii, the resulting error field can break up closed magnetic flux surfaces and reduce the effective plasma confinement volume. A novel technique for accurately locating the magnetic symmetry axes of torsatron helical and vertical coil sets to within ∼1 mm using magnetic field measurements near the device major axis (i.e., away from the confinement volume) is described and applied to the URAGAN‐3 torsatron. The axis of the vertical field coil set was found to be shifted by ∼1 cm relative to the axis of the helical coil set; this shift could account for the reduced confinement volume observed in previous experiments. The magnetic measurements were repeated after coil repositioning to verify correct alignment.