An analysis of a novel magnetic field sensor based on a graphene spin capacitor is presented. The proposed device consists of graphene nanoribbons on top of an insulator material connected to a ferromagnetic source/drain. The time evolution of spin polarized electrons injected into the capacitor can be used for an accurate determination at room temperature of external magnetic fields. Assuming a spin relaxation time of 100 ns, magnetic fields on the order of $\sim 10$ mOe may be detected at room temperature. The observational accuracy of this device depends on the density of magnetic defects and spin relaxation time that can be achieved.