We have developed multipurpose spectral technique for amplitude and phase measurements at frequencies 100–1000 GHz based on the use of backward wave oscillators (BWOs) as sources of probing radiation. It utilizes to the utmost all the remarkable advantages of BWOs such as high radiation intensity, monochromaticity, polarization, as well as high speed and wide range of frequency tuning. Extremely simple and flexible open-space measurement geometries are used. The developed technique seems to be the most appropriate and promising for the reliable, precise and mass characterization of materials and devices at millimeter-submillimeter waves.