This paper demonstrates, for the first time, a novel demodulation technique that can be applied for interrogating a shortest cavity in multi-cavity Fabry-Pérot (F-P) sensors. In this demodulation technique, using an amplified spontaneous emission (ASE) light source and two optical fiber broadband filters, the interference only occurs in a shortest F-P cavity that is shorter than the half of the coherence length. Using a signal calibration algorithm, two low-coherence interference optical signals with similar coherence lengths were calibrated to obtain two quadrature signals. Then, the change in the cavity length of the shortest F-P cavity was interrogated by the two quadrature signals and the arctangent algorithm. The experimental results show that the demodulation technique successfully extracted 1 kHz and 500 Hz vibration signals with 39.28 µm and 64.84 µm initial cavity lengths, respectively, in a multi-cavity F-P interferometer. The demodulation speed is up to 500 kHz, and the demodulation technique makes it possible for multi-cavity F-P sensors to measure dynamic and static parameters simultaneously. The results show that the demodulation technique has wide application potential in the dynamic measurement of multi-cavity F-P sensors.