We propose a quantum-enhanced iterative (with $K$ steps) measurement scheme based on an ensemble of $N$ two-level probes which asymptotically approaches the Heisenberg limit $delta_K propto R^{-K/(K+1)}$, $R$ the number of quantum resources. The prot
ocol is inspired by Kitaevs phase estimation algorithm and involves only collective manipulation and measurement of the ensemble. The iterative procedure takes the shot-noise limited primary measurement with precision $delta_1propto N^{-1/2}$ to increasingly precise results $delta_Kpropto N^{-K/2}$. A straightforward implementation of the algorithm makes use of a two-component atomic cloud of Bosons in the precision measurement of a magnetic field.