A new kind of magnetoelasticity pressure sensor take Fe-base nanocrystalline alloy strip as sensitive element was discussed. At first, its operation principles, structure, output characteristics and the choice of some major parameter were discussed. Secondly, through the pressure experiments, the sensor's static performance as well as the influence of magnetic field strength on the output were analyzed. The experimental results show the sensor's the maximum linearity error is 2.22%F.S., the maximum repetitive error is 0.97%F.S., the unamplified maximum sensitivity is 0.2073μV/Pa, and zero temperature drift is lighter than 1.22%F.S.. In addition the sensor has some characteristics such as simpler structure,good operational reliability, low costs and extensive measuring range.