An acousto-optic (AO)-based electric field sensor is presented for time domain measurement under magnetic resonance imaging (MRI). A fully MR-compatible sensor is designed and fabricated using a phase-shifted fiber Bragg grating mechanically coupled to a piezoelectric transducer. Mechanical resonance of the piezoelectric transducer is matched to the operating frequencies of commonly used MRI systems to increase the sensitivity of the sensor. Sensitivity of the sensor is measured as 1.27 mV/V/m, with a minimum detectable electric field of 4.4 mV/m/√Hz. Directivity of the sensor is measured with a 18 dB orthogonal component rejection. The dynamic range of the sensor is calculated as 117 dB/Hz, which allows the measurement of electric fields up to 3.2 kV/m. In MRI studies, the AO sensor was able detect local hot spots around a reference implant accurately with high signal-to-noise ratio. AO sensor exhibited similar or better performance when compared with commercially available MRI compatible electric field sensors. Furthermore, the small size of the sensor with the flexible fiber optic link could allow in situ measurements of electric fields during critical interventional procedures such as pacemaker lead or deep brain stimulator placement as an MRI dosimeter during diagnostic scans.