This paper addresses the design and analysis results of a 2-axes magnetometer for attitude determination of small satellite. A low-cost and efficient 2-axes fluxgate magnetometer was selected as the most suitable attitude sensor for LEO microsatellites which require a low-to-medium level pointing accuracy. An optimization trade-off study has been performed for the development of 2-axes fluxgate magnetometer. All the relevant parameters such as permeability, demagnetization factor, coil diameter, core thickness, and number of coil turns were considered for the sizing of a small satellite magnetometer. The magnetometer which is designed, manufactured, and tested in-house as described in this paper satisfies linearity requirement for determining attitude position of small satellites. On the basis of magnetometer which is designed in Space System Research Lab. (SSRL), commercial magnetometer will be developed.