In this study, real-time measurement and analysis of the current and the voltage harmonics in power systems have been realized. The system developed has been connected to an AC power source feeding several loads. The current and the voltage values are measured using measurement transformers and then they are transferred to the computer via a data acquisition board. Data transmission from the acquisition board to the computer and data analysis are achieved using a software developed in LabVIEW analysis environment. Three phase current, voltage, and their fundamental frequencies with harmonic values are calculated and then plotted on the computer screen. Experimental results show that the measurement setup is useful, high accuracy and cheap for analyzing current and voltage waveforms.