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Results of aeromagnetic data interpretation of Ilesha SW, Nigeria are presented here. The geology of Ilesha which is Precambrian falls under the basement complex of Nigeria. Depths to source rocks in this area are expected to be shallow. The results obtained revealed the presence of rocks such as amphibolites, quartz and schist which are the common rock types present in the study area. An aeromagnetic map of scale 1:50,000 was hand digitized, while forward and inverse modeling was achieved via the use of Potent, version 4.10.02. The field data were qualitatively and quantitatively interpreted and results showed NE-SW trending of the fault zone in the study area and anomalous bodies whose total magnetic intensity ranges from a minimum negative peak value of -625.5 nT to a maximum positive peak value of 179.43 nT. The maximum depth to top of the magnetic source body obtained is 34.2 m and minimum depth is 0.5 m. The results obtained indicate shallow depths to magnetic anomalies, as expected in most areas of the basement complex of Nigeria.