<p>We analyze the excitation of electromagnetic waves of the extremely low frequency (ELF) range by an ionospheric distributed ring current induced in the ionospheric <i>F</i> region by high-power modulated HF wave radiation of the heater. Analytical expressions are obtained for the components of electric and magnetic fields within the framework of a simple layered model of the ionosphere. The spatial structure of the fields in the ionosphere and the Earth–ionosphere waveguide is calculated. Dependences of the magnetic field components on distance to the source and altitude in the ionosphere are studied. Frequency dependence of the field is analyzed.</p>