A fiberoptic multi-parameter sensing system for monitoring turbomachinery system shaft static and dynamic torques, vibration modes and associated operation status includes a multi-furcated fiber bundle based optical splitter configured to transmit light to a surface of at least one turbomachinery system shaft through a plurality of optical fiber bundles disposed at a plurality of locations in proximity to the surface of the at least one shaft, in which the plurality of locations together are arranged in a substantially axial direction between the ends of the at least one shaft. The system further includes an array of high-temperature bifurcated fiber bundle based reflectance probes to receive reflectance signals from the shaft surface and send to an array of photosensitive detectors, configured to detect dynamic light reflected from the at least one turbomachinery system shaft surface in response to the transmitted light during rotation of at least one turbomachinery system shaft and generate dynamic reflected light signals there from. A sensing mechanism is configured to determine a torque or vibration on at least one turbomachinery system shaft in response to the dynamic reflected light signal signatures based on time-domain and frequency-domain signal processes.