We report an ultrasmall microfiber-probe-based reflective interferometer for highly sensitive liquid refractive index measurement. It has a 3.5 microm micronotch cavity fabricated by focused ion beam micromachining. A sensitivity of 110 nm/RIU (refractive index unit) in liquid is achieved with over 20 dB extinction ratio. Theoretical analysis shows this kind of device is a hybrid of Fabry-Perot and modal interferometers. In comparison with normal fiber interferometers, this probe sensor is very compact, stable, and cheap, offering great potentials for detecting inside sub-wavelength bubbles, droplets, or biocells.