Anyone have a problem with there low oil light coming on for now reason. I was driving made a stop when I got back in the low oil light came on. I checked engine and trans oil both are fine anyone have this problem my buddy told me its probably the sensor.

 

If the level is fine I would think it almost has to be the sensor. My Z-71 has the same problem except it is the "low coolant" sensor.

 

Sounds like a sensor to me

 

Check the wires going to the sensor, see if one of them is frayed or cut or burned or something. If they are fine then more than likely the sensor.

 

I was having the same issue...turns out 1 out of the 10 times it came on it was slightly low of oil.