In this paper, we implement measurement functionality for the 3GPP (Third Generation Partnership Project) WCDMA (Wideband Code Division Multiple Access) modem. Generally speaking, the receiving algorithms in normal modems cannot be used directly to the measurement system due to the lack of the measurement accuracy. In this paper, we propose the new measurement algorithm for precise 3GPP WCDMA signal measurements. In the measurement algorithm, 4-stage parameters estimation scheme is used. To improve the measurement accuracy, we increase the number of the received signal samples by interpolation. The proposed 3GPP WCDMA signal measurement algorithm can be used for verifying and implementing SoC/FPGA modem measurement systems.