A fast and high-resolution simultaneous measurement of strain and temperature using an optical fiber sensor is presented. Temperature and strain can be measured simultaneously by using two types of reflection spectra of a Fabry–Perot interferometer consisting of fiber Bragg gratings in a polarization-maintaining fiber (PM-FBG-FPI). The fine structure of a reflection spectrum of the PM-FBG-FPI enables the high-resolution detection of wavelength shifts. We present a fast interrogation method with current modulation of a laser diode for PM-FBG-FPI sensors. The resulting fast measurement is demonstrated experimentally.