A magnetic sensor system includes two magnetic sensors that detect components in two directions of an external magnetic field, an additional magnetic field generation section, and a signal processing circuit. The additional magnetic field generation section is capable of generating two additional magnetic fields for use in measuring the sensitivities of the two magnetic sensors. The signal processing circuit includes a sensitivity measurement processing section and a detection signal correction processing section. The sensitivity measurement processing section measures the sensitivities based on data concerning changes in the detection signals of the two magnetic sensors when the additional magnetic field generation section is controlled to generate two additional magnetic fields. The detection signal correction processing section performs processing for reducing change components attributable to the two additional magnetic fields on the detection signals of the two magnetic sensors.