We report on a full two-port on-wafer vector network analyzer test set for the 220-325 GHz (WR3) frequency band. The test set utilizes Oleson Microwave Labs frequency extenders with the Agilent 8510C network analyzer. Two port on-wafer measurements are made with GGB Industries coplanar waveguide (CPW) probes. With this test set we have measured the WR3 band S-parameters of amplifiers on-wafer, and the characteristics of the CPW wafer probes. Results for a three stage InP HEMT amplifier show 10 dB gain at 235 GHz [11, and that of a single stage amplifier, 2.9 dB gain at 231 GHz. The approximate upper limit of loss per CPW probe range from 3.0 to 4.8 dB across the WR3 frequency band.