In this Letter, we propose and experimentally demonstrate a method for simultaneous and complete discriminative measurement of liquid-level and density for the first time, to the best of our knowledge. The principle is to measure the responses of optical fiber sensing units caused by buoyancy and hydraulic pressure. By utilizing a designed steel diamond structure, the sensor sensitivity is significantly improved. The theoretical models and experimental methods are analyzed in detail. For large-range liquid-level measurement, a high sensitivity of 77.3 pm/cm with resolution of 0.129 mm (accuracy of 0.149‰) is achieved. As a trade-off between density measurement and sensor capability, a dual-parameter sensing is demonstrated experimentally, which features liquid-level sensitivity of 34.7 pm/cm and density sensitivity varying from 1 to 3.44nm/g/cm3. Taking advantage of the compact size, easy fabrication, and low cost, this method has great potential in real-time intelligent monitoring of reserves and quality for industrial storage of fuels and chemicals.