A cost-efficient P-D fiber structure-based Sagnac loop sensor is proposed and experimentally demonstrated for measuring temperature and liquid refractive index (RI). The P-D structure is fabricated by fusion splicing a section of polarization-maintaining fiber (PMF) to a piece of multimode D-shaped optical fiber (MMDF). Then the P-D structure is built into a Sagnac loop using a 3dB coupler. The temperature and RI characteristics of the sensor are investigated experimentally. The results show that two resonant dips have different spectral responses of temperature and RI, which indicate that the sensor can realize simultaneous temperature and RI measurement. The high sensitivities of -1.804nm/°C and -131.49nm/RIU are achieved. The obtained resolutions of temperature and RI of the proposed sensor can reach 0.01°C and 2.46 × 10-4RIU, respectively. The proposed sensor has the potential application in biological and chemical fields.