The operating environment of large mechanical equipment on ships is extremely harsh. Under such harsh conditions, it is necessary to effectively monitor and assess the health status of machinery and equipment and to take appropriate maintenance measures to ensure the normal operation of the ship and the safety of the lives and property of the crew. However, currently used methods are less effective in detecting non-ferromagnetic abrasive particles and non-metallic contaminants and may not be able to respond to certain emergencies promptly. Therefore, in this paper, a quad-solenoid coil multi-contaminant oil detection sensor is proposed to detect metallic abrasive particles and non-metallic contaminants using the voltage–capacitance dual mode. We provide an analytical expression for the magnetic field strength of the present sensor and develop a corresponding mathematical model. In order to verify its accuracy, we compared the model results with finite element analysis and verified them experimentally. Analysis of the experimental results shows that by switching the detection mode of the sensor, ferromagnetic metal particles, non-ferromagnetic metal particles, and non-metallic contaminants in the oil can be identified according to the different experimental signal curves. The sensor recognizes ferromagnetic particles over 70 μm in diameter, non-ferromagnetic particles over 220 μm in diameter, water droplets over 100–110 μm in diameter, and air bubbles over 180–190 μm in diameter. By comparing the sensor with existing sensors, the sensor can provide accurate information about various pollutants, help maintenance personnel to develop a reasonable maintenance program, and reduce the maintenance cost of ship machinery.