Accurate and sensitive measurements of NO2 play an extremely important role in atmospheric studies. Increasingly, studies require NO2 measurements with parts per trillion by volume (pptv-level) detection limits. Other desirable instrument attributes include ease of use, long-term stability, and low maintenance. In this work, we report the development of an amplitude-modulated multimode-diode-laser-based cavity-enhanced absorption spectroscopy (AM-CEAS) system operating at 406 nm that uses phase-sensitive detection for extremely sensitive NO2 detection. The laser was TTL-modulated at 35 kHz. The mirror reflectivity was determined to be 99.985% based on the ring-down time measurement. The cavity base length was 47.5 cm, giving an effective absorption pathlength of ∼3.26 km. AM-CEAS achieved a 1σ detection precision of 35 pptv in a 1 s data acquisition time (4.98 × 10-10 cm-1), over 4 times lower than that attained using a ring-down approach and the same optical system. The AM-CEAS precision improved to 8 pptv over a data acquisition time of 30 s (1.14 × 10-10 cm-1). The AM-CEAS method with the multimode diode laser integrates the advantages of high light injection efficiency like on-axis alignment cavity ring-down spectroscopy, low cavity-mode noise like off-axis alignment CEAS, and narrow-bandwidth high-sensitivity weak signal detection of modulation spectroscopy, providing a powerful, straightforward, and general method for ultrasensitive absorption and extinction measurements.