A method and device for locating the position, on the right or on the left, of a vehicle wheel. The wheel is equipped with two magnetic sensors having axes of maximum sensitivity lying in a plane that is secant to the axis of rotation of the wheel and which are offset from one another in this secant plane by a predetermined angle .theta.. As the vehicle moves in a given travel direction, a signal generated by the variation in a magnetic field is measured at the terminals of each of the magnetic sensors to deliver two periodic signals phase-shifted from one another by an angular value equal to (+ or -) .theta., this phase shift is used to determine the direction of wheel rotation, and from such direction and the travel direction, the location, on the right or on the left, of the wheel is deduced.