A novel and simple method using a cylindrical penetrometer is being developed for the measurement of yield stress. The principle of this technique is based on the measurement of the static equilibrium of a falling penetrometer in a yield stress fluid. The yield stress is simply determined by a balance of forces acting on the penetrometer. The yield stress of Carbopol gels and $TiO_2$ suspensions has been measured using this method. The results are in reasonable agreement with the values from conventional methods. The effects of the dimensions and weight of the penetrometer have been examined. The long-term behaviour was also observed. No measurable creep was seen and equilibrium was found to be very quickly established. The cylindrical penetrometer technique promises to be a simple, quick and reliable static method for the measurement of yield stress.