The invention discloses a time division multiplexing (TDM)-based low-reflectivity triangle spectrum-shaped fiber grating sensing system. The system mainly comprises a distribution feedback laser, an electro-optical modulator, a circulator, an optical amplifier, a triangle spectrum-shaped fiber grating sensor, a high-speed optical detector, a pulse signal generator and a signal acquisition device, wherein the distribution feedback laser is used for emitting narrow line-width laser; pulse signal light is formed by the narrow line-width laser through the electro-optical modulator or is generated by internal modulation through the distribution feedback laser; the pulse light passes through the circulator and then is reflected by a triangle spectrum-shaped fiber grating; the reflected light passes through the circulator to enter the optical amplifier and is amplified into the high-speed optical detector; and a light signal is converted into an electrical signal through the high-speed optical detector, and the electrical signal is converted into a digital signal and is processed through the signal acquisition device. In the system, the distribution feedback laser and the low-reflectivity triangle spectrum-shaped fiber grating sensor are combined, a large-scale fiber grating sensing network is constructed through TDM, and thousands of sensors are multiplexed on a single fiber, so that the costs of a light source and a wavelength detection device are reduced.