The multiphase free sink vortex (MFSV) has frequently appeared in practical industry processes, including the refinement of steel stream, hydroelectric energy conversion of the tidal power station, and draining state detection of nuclear power equipment. Its internal real-time monitoring is crucial for enhancing product yield, raising energy utilization, and achieving safe and high-effective production. However, harsh industrial conditions, such as high temperature, reactivity disturbance, and high-frequency shock, prevent the direct detection of the MFSV flow field. Given the above issues, this paper proposed a novel fluid–structure coupling modeling and sensing method for the MFSV-induced vibration mechanism. A fluid–structure coupling mechanic model based on the Rankine vortex model and Helmholtz equation is built to determine critical penetration conditions. Then, a Flügge equation-based solving approach is proposed to obtain the vibration evolution mechanism. Forced displacement response and vibration characters are discussed with the multi-source vibration sensing methods (MSVSM). Finally, a wavelet packet (WP) transform-based vibration sensing technique is presented to identify the distortion attribute in the critical transition state. The results show that the proposed modeling and solution method oriented to the MFSV-induced vibration have better revealed the vibration evolution mechanism and its displacement response. Flow flux dominates the critical transition time and vibration intensities of the MFSV flow field; the WP transform-based sensing method can effectively identify transient distortion attributes. The relevant result can offer a helpful reference for fluid-induced vibration detection and provide technical solutions for industrial monitoring systems.