A diagnostic system for an engine includes a phaser control module that commands a first cam phaser position of a cam phaser of the engine for a first period and a second cam phaser position of the cam phaser for a second period, and a phaser diagnostic module that diagnoses a phaser control error for the cam phaser based on a first pressure of fluid supplied by an oil control valve to the cam phaser measured during the first period, and a second pressure of fluid supplied by the oil control valve to the cam phaser measured during the second period. The first and second pressures are measured on one of an advance-side fluid chamber and a retard-side fluid chamber of the cam phaser. The phaser diagnostic module detects one of a phaser mechanical fault and a phaser hydraulic system fault. A related method is also provided.