In the present study, the application of a magnetic tracer-tracking method in measuring solids circulation in a fluidized bed standpipe is investigated, due to its advantages of little intervention and cost efficiency, especially in pressurized systems. The method only needs to inject one small magnetic tracer to follow the main solid flow in the standpipe, therefore predicting particles’ real-time velocities. The measurement accuracy was thoroughly tested via comparing to conventional descending and accumulation methods. Main tracer properties, including tracer shape, density, and magnet core, were considered. Solids flow patterns in the standpipe were also regulated by changing orifice sizes and adding an inclined pipe, for the purpose of investigating the measurement accuracy in various conditions. The adverse effect of a narrow orifice on measurement was addressed via constructing a model that includes sand particles’ non-uniform velocity distribution across the standpipe cross-section. To interpret behaviors of tracers varied in size and density, a mathematical model was constructed to describe forces exerted on the tracer in the solids bed. The behaviors of the tracer immersed into the solids bed were also examined, providing an insight to that in a standpipe with continuous solids circulation. The solids bed density was also regulated by varying the mixture of olivine sand and carbonaceous particles at different proportions. The magnetic tracer-tracking method has been successfully validated, demonstrating good measurement accuracy of solids discharge flow rates in the standpipe, particularly avoiding cumbersome calibration. Moreover, the method can also determine sand waving and oscillated discharge behaviors, which might be related to solids’ stick–slip phenomena and is unlikely to be accurately determined using conventional descending and accumulation methods.