A new method for non-invasive measurement of the human state of hydration is presented. This method is based on frequency-dependent absorptiometry of radio-waves passing through tissues. A device utilizing this method was constructed and applied to 12 young (24 ± 1) male volunteers, who were dehydrated for 1–2.5% of their weight by performance of a physical effort (two 30 min bouts of treadmill walking/running at 2, 3, 4, 5, 6 and 7 mph, 5 min at each speed, separated by 10 min rest), under moderate heat stress (40 °C, 40% RH). Hypohydration level was determined by body weight measurements taken before each session, after 30 min and at the end of each session. Concomitantly, measurements of radio frequency (RF) absorption were taken. Each volunteer underwent the heat stress exercise twice: one in which no drinking was permitted, and another with free drinking. A correlation (R² = 0.734) between weight loss and a change in the radio-waves absorption pattern was observed in most of the volunteers, in both hypo and euhydration sessions. Further work to establish the reproducibility and validity of the RF methodology in larger and different populations, i.e., females, other age groups and different health conditions, is already being researched.