In this paper, we propose a volatile organic compound (VOC) gas sensing system with high sensitivity and a wide dynamic range that is based on the principle of the heterodyne frequency modulation method. According to this method, the time period of the sensing signal shift when Nile Red containing a VOC-sensitive membrane of a fiber-optic sensing element comes into contact with a VOC. This sensing membrane produces strong, fast and reversible signals when exposed to VOC gases. The response and recovery times of the proposed sensing system were less than 35 s, and good reproducibility and accuracy were obtained.