An optical oil component sensor and a sensing method using the sensor, which can identify similar fuel oil in real time. The optical oil component sensor includes a light source unit, a reference optical waveguide, configured to guide light thereinto, for receiving and outputting light emitted from the light source unit, a sensing optical waveguide, configured to guide light thereinto, for receiving and outputting light emitted from the light source unit, wherein a portion of the sensing optical waveguide is formed to be in contact with test target oil, a light-receiving unit for receiving both a reference light signal, output from the reference optical waveguide, and a test light signal, output from the sensing optical waveguide, and a control unit for identifying components of the test target oil by comparing optical properties of the reference light signal and the test light signal with each other.