A combined hub temperature and wheel speed sensor system comprises a sensor assembly coupled to an axle and a wheel assembly fixedly coupled to the wheel, which in turn is free to rotate with respect to the axle. The wheel assembly includes a ring magnet. The sensor assembly includes a temperature sensor in proximity to the wheel bearing, Hall effect sensors positioned to detect the rotation of the ring magnet, and a circuit for generating and transmitting signals corresponding to the wheel rotation speed, rotation direction, and bearing temperature.