A magnetic compass module must be calibrated accurately before use. Moreover, the calibration process must be performed taking into account any magnetic dip if the magnetic compass module has tilt angles. For this, a calibration method for a magnetic compass module is explained. Tilt error of the magnetic compass module is compensated using a biaxial accelerometer generally. The accelerometer error causes a tilt angle calculation error that gives rise to an azimuth calculation error. For error property analysis, error equations are derived and simulations are performed. In the simulation results, the accuracy of derived error equations is verified. If a biaxial magnetic compass module is used instead of a triaxial one, the magnetic dip and z-axis magnetic compass data must be estimated for tilt compensation. Lastly, estimation equations for the magnetic dip and z-axis magnetic compass data are derived, and the performance of the equations is verified based on a simulation.