A new, simple signal processing, low-cost technique for the fabrication of a portable oxygen sensor based on time-resolved fluorescence is described. The sensing film uses the oxygen sensing dye platinum meso-tetra (pentfluorophenyl) porphyrin (PtTFPP) embedded in a polymer matrix. The ratio τ0/τ100 measures sensitivity of the sensing film, where τ0 and τ100 represent the detected fluorescence lifetimes from the sensing film exposed to 100% nitrogen and 100% oxygen, respectively. The experimental results reveal that the PtTFPP-doped oxygen sensor has a sensitivity of 2.2 in the 0%-100% range. A preparation procedure for coating the photodiodes with the oxygen sensor film that produces repetitive and reliable sensing devices is proposed. The developed time-resolved optical oxygen sensor is portable, low-cost, has simple signal processing, and lacks optical filter elements. It is a cost-effective alternative to traditional electrochemical-based oxygen sensors and provides a platform for other optical based sensors.