A spreadsheet-based magnetic tunnel junction (MTJ) sensor design tool is presented in this paper. The system is developed using Excel and Visual Basic Application. It allows users to optimize the various parameters of the sensor design with the goal of SQUID-like sensitivity. Users can input parameters of the design including magnetic properties, junction areas, and free layers thicknesses. The design tool will then calculate and display automatically various noise sources including Johnson noise, shot noise, 1/f noise, and thermal magnetic noise that must be considered when building MTJ magnetic field sensors. Graphs predicting the sensitivities, operating current and power of the finished sensors are shown and fine tuning of each design parameter is allowed using the scrollbars provided. Using this design tool, effects of changes made to any design parameter can be clearly observed and detailed noise analysis can be studied without manually repeating complex calculations.