A magnetostrictive position measuring method determines a time of flight of a magnetostrictive response transmitted through a waveguide. The magnetostrictive response is generated using a target magnet in response to a magnetostrictive excitation. In the method, an electrical response signal containing an indicator of the magnetostrictive response is digitally sampled at a sampling rate to obtain a plurality of samples. An amplitude of each of the plurality of samples within a target frequency range is determined through an analysis of the plurality of samples in a frequency domain. A peak sample from the plurality of samples in the frequency domain corresponding to the magnetostrictive response is identified. The time of flight and a position of the target magnet along the waveguide is determined based on the peak sample.