This article reports a novel separable bioanalyte detection system that combines magnetic nanoparticle labels with giant magnetoimpedance (GMI). The GMI sensor was fabricated via standard microfabrication techniques, and a micro-solenoid coil was integrated with the sensing elements to amplify the signal tags. To verify the feasibility of this strategy, streptavidin-coupled Dynabeads and a-fetoprotein (AFP) bioconjugates were utilized as model analytes, while double antibody sandwich immunoassays and streptavidin-biotin binding assays were employed to immobilize and label AFP on an Au-film coated wafer. The resulting biosystem exhibited markedly improved sensitivity compared to other similar biosensors: A minimum detectable limit of 3ng/ml for streptavidin-coupled Dynabeads and 0.2ng/ml for AFP were achieved, respectively. In addition to its very high detection sensitivity, the proposed biosystem can be conveniently manipulated, is not contaminated or damaged by chemical solutions, and is reusable without cleaning. The results presented here may considerably enhance the practical applications of GMI sensors in bio-magnetic-field sensing.