The load current of the new power system has significant characteristics on a wide dynamic range, which poses challenges to current sensing technologies. This paper proposes a magnetic-sensitive element based on NdFeB/Lead Zirconate Titanate (PZT) magnetoelectric composite materials, and further develops a magnetoelectric coupling current sensor. The sensor operates in torque mode, enabling the detection of both wide dynamic range alternating currents and weak alternating currents. Experimental studies show that the sensor achieved a power-frequency current detection sensitivity of 15.56 mV/A, a linear range of (0–120) A, and a detection limit of 153 μA. The results indicate that the sensor exhibits high sensitivity in alternating current (AC) current detection, and at power frequency, possesses both a wide dynamic range and the capability to detect weak currents. Therefore, it shows great application potential in scenarios such as wide dynamic range AC current measurement and weak current detection in power systems.