1. A method of magnetic character recognition through reading a character string by using a magnetic head, and creating a regeneration waveform for the character recognition; the character string including a plurality of magnetic characters printed with magnetic ink; and the method of magnetic character recognition comprising: a peak detection process for detecting peak positions in the regeneration waveform; a character pitch measuring process for calculating an average character width and an average character period of each character according to a detection result of the peak detection process; a character segmentation process for calculating a peak interval array for each character according to the average character period; a peak searching process for searching for peak positions by using searching conditions, which are different from what the character segmentation process applies, on each waveform part segmented through the character segmentation process; a peak count evaluation process for choosing either a result of the character segmentation process or a result of the peak searching process, depending on whether the number of peaks in the waveform part agrees with a prescribed number of peaks; and a character determining process for a matching operation on a peak interval array, according to the peak interval array determined through the peak count evaluation process, to determine the character.