Flexible strain sensors have attracted tremendous interests due to the emergence of intelligent wearable technology. Electrically conductive fibers are desirable candidates for flexible strain sensors, but up til now, there still exist enormous challenges to obtain conductive fibers exhibiting simultaneously high stretchability and high strain sensitivity. This paper introduces a poly (styrene‐butadiene‐styrene) (SBS)/graphene (Gr) composite fiber‐based flexible strain sensor fabricated by a facile and highly scalable wet spinning method. The results demonstrate that the graphene content has significant influence on the morphology, mechanical properties, and electromechanical properties of the composite fibers. The fibers with 5 wt% graphene have a wide response range of up to 100% strain, a high electrical sensitivity with the gauge factor of 10083.98 at 100% strain, and meanwhile, a high level of stability for 2100 stretching–releasing cycles under an applied strain of 20%. Furthermore, the SBS‐5%Gr composite fibers display excellent sensing performance in detecting human upper limb movements at different joints including hand joints, wrist joints, elbow joints, and shoulder joints.