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Noise problem limits the sensitivity of magnetic tunnel junction (MTJ) sensors for ultra-low magnetic field applications. Noise analysis not only helps in finding ways to eliminate noise disturbances but also essential for understanding the electronic and magnetic properties of MTJs. These approaches provide insight for optimizing the design of MTJ sensors before fabrication. This paper reviews the noise sources in MTJ sensors reported in recent years. Both the origins and mathematical derivations of the noise sources are presented, illustrating how different factors affecting the performance of MTJ sensors. A brief outlook of challenges in the future is also given.