Fiber Bragg sensors become research focus of sensing technology, and have been widely used in many applications. This paper proposes a novel Fiber Bragg Grating sensor analyzer based on FPGA (Field Programmable Gate Array) and DSP (Digital Signal Processor) platform, which converts external parameter changes into wavelength shift in Fiber Bragg Gratings. the system can measure real-time temperature, strain, pressure, displacement and others through key steps including data acquisition, clutter Filtering, signal peak detection, Gaussian curve fitting and weighted wavelength calculation to carry out wavelength demodulation. Moreover, it is able to achieve fault diagnosis and positioning of the fiber link. Experimental results show that the system has advantages of low power consumption, good linearity, strong robustness, high precision and resolution on wavelength demodulation. And the system is still stable and reliable after a long test under different conditions.