Highly conductive and stretchable fibers are crucial components of wearable electronics systems. Excellent electrical conductivity, stretchability, and wearability are required from such fibers. Existing technologies still display limited performances in these design requirements. Here, achieving highly stretchable and sensitive strain sensors by using a coaxial structure, prepared via coaxial wet spinning of thermoplastic elastomer-wrapped carbon nanotube fibers, is proposed. The sensors attain high sensitivity (with a gauge factor of 425 at 100% strain), high stretchability, and high linearity. They are also reproducible and durable. Their use as safe sensing components on deformable cable, expandable surfaces, and wearable textiles is demonstrated.