In engineering measurements, metal foil strain gauges suffer from a limited range and low sensitivity, necessitating the development of flexible sensors to fill the gap. This paper presents a flexible, high-performance piezoresistive sensor using a composite consisting of graphene nanoplatelets (GNPs) and polydimethylsiloxane (PDMS). The proposed sensor demonstrated a significantly wider range (97%) and higher gauge factor (GF) (6.3), effectively addressing the shortcomings of traditional strain gauges. The microstructure of the GNPs/PDMS composite was observed using a scanning electron microscope, and the distribution of the conductive network was analyzed. The mechanical behavior of the sensor encapsulation was analyzed, leading to the determination of the mechanisms influencing encapsulation. Experiments based on a standard equal-strength beam were conducted to investigate the influence of the base and coating dimensions of the sensor. The results indicated that reducing the base thickness and increasing the coating length both contributed to the enhancement of the sensor’s performance. These findings provide valuable guidance for future development and design of flexible sensors.