A holographic sensor based on camphorquinon doped poly (methyl methacrylate-co-lauryl methacrylate) (poly (MMA-co-LMA)) elastic photopolymer is developed for characterizing the shear deformation of material. A shear angle and its transverse displacement, which are induced by a couple of shear stresses, are analyzed using a diffraction spectrum of a transmission holographic sensor. The dependence of the peak wavelength shift on the shear deformation presents a good linear relationship which provides a quantitative characterization means. The detectable maximum of the shear angle exceeds 26.1 deg, and the peak wavelength shift closes to 4.0 nm. The available sensitivity is better than 3.33 deg/0.5 nm (shear angle/wavelength shift) using a commercial spectrometer with 0.5 nm of resolution. Finally, the reversibility response of shear deformation further confirmed the practical applicability of the elastic polymer-based shear deformation sensor. The spectrum measurement of shear deformation provides a novel measurement means for the mechanical deformation of materials and expands the application of a holographic sensor.