Gas-liquid two-phase flow is an unavoidable energy flow phenomenon in industries, and void fraction measurement is a crucial challenge in the two-phase flow. In the study, the coaxial line phase sensor is designed base on electromagnetic wave transmission principle, by which void fraction of the slug and stratified flow was acquired. The void fraction measured by new coaxial has a well time-domain and Probability Density Functions (PDF) distribution characteristics, four typical models with different physical backgrounds were selected to evaluate the measured values of the sensors. The mean absolute errors (MAPE) were 7.85%, 24.41%, 7.22%, and 15.44% for slug flow, and 12.31%, 6.46%, 12.68%, and 2.95% for stratified flow. The results indicated that the coaxial line phase sensor has well measurement accuracy and not limited by the flow regime.