In order to solve some problem of stress sensor in dynamic weigh rail, a new kind of inductive stress sensor based on magnetostriction effect of amorphous alloy was developed. First, the principle of sensor, and inferred its output equation were discussed. Second, the static characteristic experiment and the actual experiment on the material testing machine and the mine haulage rail were separately made. The results of the test have showed that this stress sensor has some characteristics as high measurement sensitiveness and accuracy. Also being simple, convenient and solid to install and use, so it is feasible to apply the sensor for the dynamic weigh rail.