In this paper, the properties of AE signals originating from phenomena occurring during magnetization of ferromagnetic materials which are used to construct power transformer cores are presented. The AE signals in a selected power oil transformer were recorded and analyzed. The analysis included, i.e., time, frequency, and time-frequency analyses, calculations of amplitude distributions of the signals and defined AE descriptors, determination of the descriptor map on the side walls of transformers, as well as a detailed analysis of selected part of the signals. The maps of descriptors were analyzed in the frequency bands of 20–70 kHz, 70–100 kHz, and 100–200 kHz. The analysis of the properties of the signals was performed in time and frequency domains. Based on the analysis, there were identified the AE signals originating from the phenomena occurring during the core magnetization of a power oil transformer. To identify those phenomena, the maps of the ADC descriptor calculated in the band of 20–70 kHz when selecting the measurement points in which there were no AE sources from partial discharges were used. An analysis of magnetoacoustic emission signals in the bands of 70–100 kHz and 100–200 kHz was also performed. The analysis of the signal properties in such an extended frequency range allowed determining the properties of the magnetoacoustic signals coming from core sheets of power oil transformers.