High frequency surface acoustic wave (SAW) technology offers many opportunities for aerospace applications in passive wireless sensing and communication. This paper presents the design, simulation, fabrication, and test of an L-band SAW resonator based on 128° Y-X LiNbO3 substrate. The design parameters of SAW resonator were optimized by the finite element (FEM) method and the coupling-of-mode (COM) theory. Electron-beam lithography (EBL) technology was used to fabricate the submicron-scale of interdigital transducers (IDTs) and grating reflectors. The effects of some key EBL processes (e.g., the use of electron beam resist, the choice of metal deposition methods, the charge-accumulation effect, and the proximity-effect) on the fabrication precision of SAW devices were discussed. Experimentally, the LiNbO3-based SAW resonators fabricated using improved EBL technology exhibits a Rayleigh wave resonance peaks at 1.55 GHz with return loss about −12 dB, and quality factor Q is 517. Based on this SAW resonator, the temperature and strain sensing tests were performed, respectively. The experimental results exhibit a well linear dependence of temperature/strain on frequency-shift, with a temperature sensitivity of 125.4 kHz/°C and a strain sensitivity of −831 Hz/με, respectively.