An apparatus and method for identifying the position of a magnetic shaft are provided. N field sensors are adjacently positioned at fixed locations relative to the shaft's periodic field, corresponding to 180/N relative phase shifts. A table provides N>2 predetermined signal models and a pre-identified position associated with each. An interpolator compares a representation of the N measured sensor signals to at least two predetermined models to generate a correction signal that provides another pre-identified position. The correction signal depends on N sensors for every position of the shaft. The correction signal is used to incrementally choose said another pre-identified position from the table as an approximate position of the shaft in an iterative process to find the minimum correction signal and identify the position.