We propose and demonstrate the use of laser intensity modulation for the multiplexing and demultiplexing of fiber Bragg grating-based ultrasound sensors. The method utilizes an intensity modulator to modulate the output power of the laser with a frequency much higher than that of the ultrasounds. The high-frequency-modulated optical signal serves as a carrier signal. Ultrasonic signals impinged onto the sensor appear as the envelope of the carrier signal. In the frequency domain, the carrier signal and the sidebands encoded with the ultrasonic signal are separated from those of other channels and, thus, can be isolated using an electronic bandpass filter for crosstalk-free ultrasound detection. Each laser can be tuned to demodulate any sensor covered by the wavelength range of the laser, and a common photodetector is used for all channels. Both a theoretical analysis and experimental verification are provided to demonstrate the concept.