In this paper, we implement the measurement functionality for performance measurements of EDGE (Enhanced Data Rates for GSM Evolution) terminal by using software. Generally speaking, the receiving algorithms in normal MODEM cannot be used directly to a measurement system due to the lack of accuracy. Therefore, we propose a new receiver algorithm for precise EDGE signal measurements. In the proposed algorithm, 2-stage (coarse stage, fine stage) parameters estimation (symbol-timing, frequency offset, carrier phase) scheme is used. To improve the estimation accuracy, we increase the number of the received signal samples by interpolation. The proposed EDGE signal measurement algorithm can be used for verifying the hardware measurement system, and also can be used for the commercial systems through software optimization.