A method of hydrocarbon resource recovery from a subterranean formation may include forming a plurality of spaced apart injector/producer well pairs in the subterranean formation. Each injector/producer well pair may include a laterally extending producer well and a laterally extending injector well spaced thereabove. The method may include forming an intermediate well adjacent a given injector/producer well pair, and operating a positioning actuator to position a radio frequency (RF) sensor coupled to the positioning actuator to at least one predetermined location within the intermediate well. The method may further include operating the RF sensor at the at least one predetermined location within the intermediate well to selectively sense at least one corresponding portion of the subterranean formation adjacent the given injector/producer well pair. The method may also include recovering hydrocarbon resources from the plurality of injector/producer well pairs including the given injector/producer well pair.