The main objective of the performed investigations was to enhance sensitivity of a current sensor to weak changes of magnetic field. New design of the sensor of current based on magnetoresistance effect – MRE (MRE = (RH - R0)/R0 , where RH is the resistance in magnetic field and R0 is the resistance without magnetic field) was developed. The sensor was produced in the form of an annular magnet with a gap, in which the (La0.7Sr0.3)0.8Мn1.2О3 manganite film possessing large negative MRE was inserted. Nominal current in a controllable electric circuit can change from a few tenths parts of ampere to a hundred of amperes. The limit detectable change of current value depends on the size of gap in the annular magnet. The operation time of sensor at current overload and short circuit is less than 0.3 sec. These magnetoresistors are thermally stable over the temperature range from (- 50 ° С) to (+ 50 ° С). Proposed sensors based on MRE can be applied in many electrical arrangements and devices.