A tracking system employs magnetic resonance signals to monitor the position and orientation of at least one device such as a catheter within a subject. The device has a plurality of receiver coils which are sensitive to magnetic resonance signals generated in the subject. These signals are detected in the presence of magnetic field gradients and thus have frequencies which are substantially proportional to the location of the coil along the direction of the applied gradient. Signals are detected responsive to sequentially applied mutually orthogonal magnetic gradients to determine the device's position and orientation in several dimensions. The position and orientation of the device as determined by the tracking system is superimposed upon independently acquired medical diagnostic images. One or more devices can be simultaneously tracked.