In this paper, we propose and design a novel dual-range tunnel magnetoresistance (TMR) current sensor with a single magnetic ring structure. This design incorporates two distinct magnetic guiding effects, namely magnetic shunt and magnetic aggregation, within the same magnetic ring. By integrating a high-sensitivity TMR sensor chip with a closed-loop feedback circuit, we achieve a TMR current sensor with excellent linearity, high resolution, as well as high frequency response. The magnetic ring structure is first modeled and simulated, establishing a correlation between the distribution of magnetic induction intensity and the parameters of the magnetic ring and feedback coils. Through simulation optimization and theoretical calculations, we determine the optimal positions for TMR sensor chips in the magnetic ring, suitable for both current ranges. When a signal current is present, the TMR sensor chip generates a weak differential voltage signal, which is subsequently amplified, processed, and automatically transmitted to the laptop via a serial port. Furthermore, the sensor allows for automatic switching between the two current ranges. The results demonstrate that our designed dual-range current sensor exhibits outstanding performance characteristics, including a high resolution of 500 μA in the small range, accuracy of 0.10%, excellent linearity of 0.011%, and a fast frequency response of 500 kHz. These features make it highly applicable in various fields such as new energy vehicles and smart grids, indicating promising prospects for its widespread utilization.