A model for crosstalk in three-axial induction magnetometers has been developed theoretically and verified experimentally. The effect of crosstalk on the magnetometer accuracy has been analyzed. It has been found that the inevitable crosstalk in the transverse coils has two components: one due to the applied magnetic flux and the other due to the secondary flux produced by the electric current in the longitudinal coil. The first component has a constant magnitude. The phase of the second component, relative to the first one, is nearly 180° at low frequencies, 90° at resonance, and 0° at high frequencies. Its magnitude approaches zero at low frequencies, has the maximum at resonance, and then drops off by a factor equal to the coils' quality factor and approaches the first component value. As a result, the crosstalk due to the applied flux is dominant at low frequencies. At a frequency just below the resonance, the crosstalk is very low, if no magnetic feedback is applied. Just above the resonance, the crosstalk reaches the maximum because of the rapid increase in the secondary flux. Applying a strong enough magnetic feedback nearly flattens the crosstalk amplitude response. However, an undesirable effect of the feedback is that it significantly increases the minimum crosstalk value. A very low crosstalk at a single frequency can be beneficial for magnetometers tuned to a narrow frequency band. It can also be beneficial for wide-band magnetometers to measure their mechanical orthogonality with a minimum effect of crosstalk.