We propose and demonstrate a single-laser-based sensing method for measuring both blood oxygenation and microvascular blood flow. Based on the optimal wavelength range found from theoretical analysis on differential absorption based blood oxygenation measurement, we designed and fabricated a 720-nm-band wavelength tunable V-cavity laser. Without any grating or bandgap engineering, the laser has a wavelength tuning range of 14.1 nm. By using the laser emitting at 710.3 nm and 724.4 nm to measure the oxygenation and blood flow, we experimentally demonstrate the proposed method.