A novel distributed feedback (DFB) fiber laser sensor, which can measure acoustic and magnetic fields simultaneously, is proposed. The magnetic field can be measured by detecting the change of resonant frequency of the fiber laser, and the acoustic pressure can be measured by detecting the phase shift of the fiber laser. Both of the signals can be simultaneously demodulated in the frequency domain without affecting each other. Experimental studies show that the acoustic pressure sensitivity of this sensor is about −130 dB (0 dB re 1 pm∕μPa) and the sensor has a good linearity with a magnetic field sensitivity of 0.57 Hz∕mT.