Guided-mode resonance (GMR) gratings have emerged as a promising sensing technology, with a growing number of applications in diverse fields. This study aimed to identify the optimal design parameters of a simple-to-fabricate and high-performance one-dimensional GMR grating. The structural parameters of the GMR grating were optimized, and a high-refractive-index thin film was simulated on the grating surface, resulting in efficient confinement of the electric field energy within the waveguide. Numerical simulations demonstrated that the optimized GMR grating exhibited remarkable sensitivity (252 nm/RIU) and an extremely narrow full width at half maximum (2 × 10−4 nm), resulting in an ultra-high figure of merit (839,666) at an incident angle of 50°. This performance is several orders of magnitude higher than that of conventional GMR sensors. To broaden the scope of the study and to make it more relevant to practical applications, simulations were also conducted at incident angles of 60° and 70°. This holistic approach sought to develop a comprehensive understanding of the performance of the GMR-based sensor under diverse operational conditions.