The embedded frequency characteristic analyzer based on FPGA adopts the idea of virtual instrument and uses PC104 CPU as the main control unit. By realizing sequential control of D/A and A/D chips via FPGA, the analyzer outputs sine wave among all frequency range, samples the exciting signal as well as output response, also makes storage in system. The analyzer gets the system frequency characteristic through CPU algorithm processing. The research result shows, the instrument has a friendly man-machine interface and a high measuring speed. The testing waveform compares favorably with the theoretical calculated one.