A new improved test system was developed based on the non-contact inductance method, which can be used to characterize the piezomagnetic properties of Fe-based amorphous alloy ribbon properly. The studies show that when the test frequency is 1 kHz, the voltage is 0.3 V and the compressive stress σ is no more than 0.1 MPa, the amorphous magnetic material of Fe_73.5Cu₁Nb₃Si_13.5B₉ has excellent piezomagnetic properties, and its ribbons of different specifications have exhibited perfect stability and repeatability after many times experiments. It"s excited that the ribbons are extremely sensitive to tiny stress, and they show a rapidly large rising trend of the inductance once the initial pressure was applied on the ribbons. Moreover, the further amplifying experiment indicated that the sensitivity range is about 0-1.5 KPa; In addition, the size of Fe_73.5Cu₁Nb₃Si_13.5B₉ ribbons can make a big influence on its piezomagnetic property, the initial inductance and its corresponding SI (%) Max value of the ribbons increase substantially along with the sample size increasing; with the same width, the piezomagnetic property is superior to others while the thickness is 33-36 mm, the maximum value of SI (%) is 19.8%. Accordingly, with the same thickness, the ribbons with a width of 20 mm show a more excellent piezomagnetic property and the SI (%) Max has reached to 22.02%.