A non-contact current measurement device comprised of a GMR sensor and a ferrite ring core was investigated. The sensor chip employed a high-sensitivity spin-valve full-bridge GMR sensor of which the direct output has non-negligible hysteresis and a limited linear range. By applying an AC modulation current to modulate the output of the GMR sensor, the hysteresis was reduced, and the linear range was over ±0.5 A. The resolution for DC and quasi-static current measurement was 0.1 mA at a 10 Hz bandwidth. The output in proportion to the measured current was obtained either by demodulating the current-sensitive AC signal or by employing the filtered output of the intrinsically nonlinear spin-valve response. The proposed current sensing scheme is suitable for quasi-static current measurement from DC to over 100 Hz.