This paper proposes an intelligent optical fiber dynamic strain sensing system based on a semiconductor optical amplifier (SOA) fiber ring laser, and uses adaptive photorefractive two-wave mixing technology to demodulate it, and there is no need to align the static strain during the demodulation process. And temperature for any active compensation. When the reflection spectrum of the FBG (Fiber Bragg Grating) sensor changes due to dynamic strain, the wavelength of the laser output will move accordingly, then converted to a corresponding phase shift and demodulated by the InP∶Fe photorefractive crystal two-wave mixing interferometer. Experimental results show that the sensor system can measure dynamic strains between 50 and 464 kHz and the sensitivity is higher than 0.5με Hz ^-1(ε is strain). In the InP∶Fe photorefractive crystal, the dynamic strain of three FBG sensors is demodulated at the same time. The experiment proves that the multiplexing of the two-wave mixing interferometer is feasible.