Aiming at the problems of low sensitivity and low accuracy caused by the displacement transfer mechanism of three displacement sensors used simultaneously in the 3D displacement monitoring of seismic isolation bearings, the paper has proposed a high-sensitivity rotatable 3D displacement sensor. The sensor adds through holes on the surface of the equal-strength cantilever beam to form a cross beam, which increases the bending strain on the beam surface to improve the sensitivity. By adding a gyroscope and a mechanical rotation structure, a single sensor can measure the 3D displacement at the same time, reducing the adverse effects displacement transmission mechanism on the accuracy of the measurement. ANSYS software was used to simulate and optimize the parameters of the size of through-hole of the sensor beam to determine the appropriate size and location of the through-hole. Finally, the sensor was developed and its static characteristics and displacement measurement performance in static and dynamic 3D space were tested based on the simulation results. The test results have shown that the sensor has a sensitivity of 16.29 mV/mm and an accuracy of 0.9% in the range of 0–160 mm. Its static and dynamic 3D spatial displacement measurement errors are less than 2 mm, which can meet the accuracy requirements of 3D displacement measurement and sensitivity for structural health monitoring of seismic isolation bearings.