A new Multi-Tone Load Pull (MTLP) measurement system has been developed and tested. This measurement system uses an Arbitrary Waveform Generator (AWG) as the generator and a Large Signal Network Analyzer (LSNA) as a receiver. Multi-Tone generation is realized in such a way that carrier (C) and Intermodulation (I) powers can be measured separately. The set-up is fully calibrated on-wafer at all the frequencies of interest. The MTLP set-up is configured to make measurements with Multi-Tone (MT) signals up to eight frequencies and allows measuring simultaneously the MT output power, gain, Power Added Efficiency (PAE), Carrier to Intermodulation (C/I) ratio or Noise Power Ratio (NPR) in order to derive the Error Vector Magnitude (EVM) induced by the device.