Aiming at the problems that the traditional DS/FH signal source is less intelligent, inconvenient to carry and inefficient, a DS/FH signal source with small volume, low power consumption and high precision was designed based on FPGA+AD9915. The system software was designed with Verilog language by using Quartus Ⅱ software development platform. The FPGA chip was used to realize the baseband signal processing, frequency hopping code generating and intermediate frequency modulating, and the control of AD9915 and digital-analog conversion chip was also realized through FPGA. Finally, the DS/FH signal source was generated by mixing frequency. The test results show that the system has better performance and can meet the test requirements on frequency hopping rate and frequency interval.