A new variometer is developed comprising a fast-response scalar optically pumped potassium magnetometer inside a rotating magnetic field created by a two-dimensional coil system mounted on a quartz frame. The variometer measures three components of the Earth’s field: the total field intensity and two transverse components. The theoretically predicted accuracy of the field component measurement is not worse than 0.1 nT. The noise-limited sensitivity measured in a quiet magnetic field has been proved to be not worse than 25 pT rms at 0.2 s and 30 pT rms at 1 min; comparison with a proton vector magnetometer and a fluxgate magnetometer shows 1.5 nT p–t–p daily deviation.