The aim of this paper is to propose a smart optical sensor for cardiovascular activity monitoring at different tissue layers. Photoplethysmography (PPG) is a noninvasive optical technique for monitoring mainly blood volume changes in the examined tissue. However, different important physiological parameters, such as oxygen saturation, heart and breathing rate, dynamics of skin micro-circulation, vasomotion activity etc., can be extracted from the registered PPG signal. The developed sensor consists of 32 light emitting sources with four different wavelengths, which are located to the four different distances from four photo detectors. Compared to the existing sensors, the system enables to select the optimal LED (light emitting diode) and photo detector couple in order to obtain the pulse wave signal from the interested blood vessels with the highest possible signal to noise ratio. In this study, the designed PPG sensor was tested for the pulse wave registration from radial artery. The highest efficiency and signal to noise ratio was achieved using infrared LED (940 nm) and photo-diode pair.