In order to achieve accurate measurement of stress information, a new method of existing stress measurement based on inverse magnetostriction for nonexcited steel strand, which is the key loaded component of the prestressed structure, is proposed. Firstly, through establishing the theoretical model of magnetoelectric coupling, the internal relationship of the external load and the permeability of ferromagnetic materials versus the selfinductance coefficient of the coil system is analyzed. Secondly, based on the COMSOL finite element software, the inductance variation of the selfinductance coil system is simulated quantitatively when the stress of the steel strand changes. Finally, the test and measurement platform was built to carry out the test and verification. The results show that the inductance value obtained based on the proposed measurement method has high repeatability; under the condition that the excitation current is constant, the relationships of the inductance versus load for 15 groups of test data all exhibit a significant functional relationship and the goodness of fit R2 is greater than 099. The detection sensitivity increases with the increasing of the effective magnetic circuit length of the selfinductance coil. The error between the fitting value and the measured value is quite small, which meets the engineering requirement and further verifies the rationality of the proposed method.