A pressure compensated sensing system and methods for using the same are provided. The system can include a housing, a seal, an incompressible fluid, and sensing elements. The seal can be positioned within a housing cavity and divide the cavity into two portions. A first cavity portion can be sealed from the fluid environment by the seal and contain the sensing elements and the incompressible fluid. A second cavity portion can be in fluid communication with the fluid environment. The fluid environment can apply an external pressure to the seal that is opposed by an internal pressure of the sealed cavity applied to the seal by the incompressible fluid. When the internal pressure and the external pressure are different, the seal can move in a manner that changes the volume of the sealed cavity by an amount sufficient to equalize the internal pressure with the external pressure.