A fiber optic polarimetric strain sensor and associated data acquisition system capable of all-optical measurements of physical parameters, such as structural strain, gas and liquid pressure, acceleration and vibration, gas and liquid flow rate, and force without fire and explosion hazards associated with conventional strain gage technologies, such as resistance foil strain gages. The polarimetric strain sensor houses a sensitive element—a length of single-mode optic fiber—changing polarization of a single-mode optical signal running in the fiber under some mechanical effects, specifically twisting and radial compressing. A multi-channel time division multiplexing data acquisition system indicates the polarization state deviation caused by the strain, so allow measuring the parameters. The invention may be embodied for measurements of any phenomenon that can be transformed in stress on an optical fiber.