To study the wireless channel of the fifth generation mobile communication system (5G) and obtain accurate wireless channel characteristics and channel model of the 5G networks, a channel measurement platform based on the test model (TM) signal of 5G new radio is proposed. The TM wireless channel measurement platform including the whole architecture and algorithm of the receiving signal process is designed and constructed by using the software radio devices and the high-performance computing equipment. The measurement performance of the TM signals is evaluated in terms of the flatness of the power spectrum, the peak to average power ratio, and the correlation. According to the results, TM signals with better measurement performance are selected as the measurement waveforms. The proposed channel measurement platform is validated based on three different methods including direct connection verification, multipath emulation verification and air interface verification. The measurement platform not only achieves accurate channel measurement, but also obtains transmission performance such as error vector magnitude and bit error rate.