The measurement system proposed in this paper, based on double intensity modulation, can achieve the detection and recovery of vibration signals. The system uses a Mach–Zehnder modulator to modulate the intensity of the laser light before and after it is reflected from the target, and the modulated optical signal carries the vibration signal information. After photoelectric conversion and data processing, the system measures and recovers the amplitude and frequency of the vibration signal. For sinusoidal signals, amplitudes of $15\mathsf{\mu }$m, $25\mathsf{\mu }$m and $40\mathsf{\mu }$m and frequencies of 100 Hz, 500 Hz and 1000 Hz were measured, and the experimental results demonstrate that the rapid measurement and waveform recovery of such signals can be achieved using our proposed system. Specifically, the absolute deviation in amplitude measurement is less than $0.13\mathsf{\mu }$m, and the relative error does not exceed 0.35%; the absolute deviation in frequency measurement is less than 0.35 Hz, with a relative error below 0.01%; and a refresh rate of up to 4 kHz can be reached. Moreover, an aluminum plate is selected as the target object instead of the reflector in the system, providing a new method for vibration signal detection and expanding the scope of dynamic detection in industrial applications.