Magnetic sensors based on tunneling magnetoresistance (TMR) effect exhibit high sensitivity, small size, and low power consumption. They have gained a lot of attention and have potential applications in various domains. This study first introduces the development history and basic principles of TMR sensors. Then, a comprehensive description of TMR sensors linearization and Wheatstone bridge configuration is presented. Two key performance parameters, the field sensitivity and noise mechanisms, are considered. Finally, the emerging applications of TMR sensors are discussed.