We demonstrated an in-line micro fiber-optic Fabry-Perot interferometer with an air cavity which was created by multi-step fusion splicing a muti-mode photonic crystal fiber (MPCF) to a standard single mode fiber (SMF). The fringe visibility of the interference pattern was up to 20 dB by reshaping the air cavity. Experimental results showed that such a device could be used as a highly sensitive strain sensor with the sensitivity of 4.5 pm/με. Moreover, it offered some other outstanding advantages, such as the extremely compact structure, easy fabrication, low cost, and high accuracy.