This paper proposes a wireless passive measurement system that supports real-time signal acquisition, multi-parameter crosstalk demodulation, and real-time storage and calculation. The system consists of a multi-parameter integrated sensor, an RF signal acquisition and demodulation circuit, and a multi-functional host computer software. The sensor signal acquisition circuit uses a wide frequency detection range (25 MHz–2.7 GHz) to meet the resonant frequency range of most sensors. Since the multi-parameter integrated sensors are affected by multiple factors, such as temperature and pressure, there will be interference between them, so the algorithm for multi-parameter decoupling is designed, and the software for sensor calibration and real-time demodulation is developed to improve the usability and flexibility of the measurement system. In the experiment, temperature and pressure dual-reference integrated surface acoustic wave sensors in the condition of 25–550 °C and 0–700 kPa are used for testing and verification. After experimental testing, the swept source of the signal acquisition circuit can meet the output accuracy in a wide frequency range, and the detection result of the sensor dynamic response is consistent with that of the network analyzer, with a maximum test error of 0.96%. Furthermore, the maximum temperature measurement error is 1.51%, and the maximum pressure measurement error is 5.136%. These results indicate that the proposed system has good detection accuracy and demodulation performance, and it can be used for multi-parameter wireless real-time detection and demodulation.