The High Precision Magnetometer (HPM) is one of the main payloads for the China Seismo-Electromagnetic Satellite (CSES) mission. Its task is to detect the vector information of the magnetic field from DC to 15Hz. Consistent with the mission schedule, the HPM Engineering Model (EM) development has been finished and evaluated. This article introduces test results and performance parameters. The linearity, noise, stability and temperature drifts of the two fluxgate sensors were tested in China while the Coupled Dark State Magnetometer (CDSM) scalar sensor was evaluated for the linearity and the long term stability in both, Austria and China. The HPM EM meets the performance requirements defined for the CSES mission.