We present a novel non-contact method for the direct measurement of caloric effects in low volume samples. The adiabatic temperature change ΔT of a magnetocaloric sample is very sensitively determined from thermal radiation. Rapid modulation of ΔT is induced by an oscillating external magnetic field. Detection of thermal radiation with a mercury-cadmium-telluride detector allows for measurements at field frequencies exceeding 1 kHz. In contrast to thermoacoustic methods, our method can be employed in vacuum which enhances adiabatic conditions especially in the case of small volume samples. Systematic measurements of the magnetocaloric effect as a function of temperature, magnetic field amplitude, and modulation frequency give a detailed picture of the thermal behavior of the sample. Highly sensitive measurements of the magnetocaloric effect are demonstrated on a 2 mm thick sample of gadolinium and a 60 μm thick Fe80B12Nb8 ribbon.