We propose a method to investigate the dimensions and oscillation characteristics of the source of volcano-seismic signals based on waveform inversion for an extended source. An extended source is realized by a set of point sources distributed on a grid surrounding the centroid of the source in accordance with the source geometry and orientation. The source-time functions for all point sources are estimated simultaneously by waveform inversion carried out in the frequency domain. We apply a smoothing constraint to suppress short-scale noisy fluctuations of source-time functions between adjacent sources. The strength of the smoothing constraint we select is that which minimizes the Akaike Bayesian Information Criterion (ABIC). We perform a series of numerical tests to investigate the capability of our method to recover the dimensions of the source and reconstruct its oscillation characteristics. First, we use synthesized waveforms radiated by a kinematic source model that mimics the radiation from an oscillating crack. Our results demonstrate almost complete recovery of the input source dimensions and source-time function of each point source, but also point to a weaker resolution of the higher modes of crack oscillation. Second, we use synthetic waveforms generated by the acoustic resonance of a fluid-filled crack, and consider two sets of waveforms dominated by the modes with wavelengths 2L/3 and 2W/3, or L and 2L/5, where W and L are the crack width and length, respectively. Results from these tests indicate that the oscillating signature of the 2L/3 and 2W/3 modes are successfully reconstructed. The oscillating signature of the L mode is also well recovered, in contrast to results obtained for a point source for which the moment tensor description is inadequate. However, the oscillating signature of the 2L/5 mode is poorly recovered owing to weaker resolution of short-scale crack wall motions. The triggering excitations of the oscillating cracks are successfully reconstructed.