This study examines the impact of rolling direction on Barkhausen noise emission from the low-alloyed steel MC 500 during a uniaxial tensile test. The samples of gauged shape were cut along both the rolling and transverse directions to investigate the process of magnetic anisotropy alterations, as expressed in terms of Barkhausen noise and the extracted features. Barkhausen noise was studied as a function of both elastic and plastic straining, and the role of domain wall realignment with respect to the rolling direction, as well as the direction of the tensile load, was analysed. Barkhausen noise emission is linked to both the stress state and the microstructure, and the role of external stressing is contrasted with the residual stress state. Barkhausen noise in measured directly during tensile test (in situ) as well as after unloading (post situ). It was found that Barkhausen noise is significantly affected by stress directly during the tensile test (in situ), whereas the contribution of residual stresses is less pronounced. Barkhausen noise measured in situ during the tensile test in the direction of the tensile load is higher compared to the transverse direction. However, this relationship is reversed for the post situ measurements, especially for the more developed plastic strains. The influence of rolling direction on Barkhausen noise is relatively minor, and Barkhausen noise after matrix yielding is primarily affected by increasing dislocation density.