The present invention relates to an inductive proximity sensor that includes an oscillator having first and second inductor-capacitor circuits arranged such that an inductance of one of the inductor-capacitor circuits has substantially greater sensitivity to an external target than an inductance of the other inductor-capacitor circuit. The sensor also includes an alternating current drive to each of the inductor-capacitor circuits that is in-phase and depends on differences in voltage across the inductor-capacitor circuits. The sensor may be coupled to a calibration device that applies power and triggers a calibration routine within the sensor. In response to the trigger signal, a calibration processor within the sensor executes the calibration routine and adjusts the inductor-capacitor circuits and provides an indication of successful calibration.