This paper considers a simultaneous wireless information and power transfer (SWIPT) based decode-and-forward (DF) relaying sensor network, where the “save-and-forward” strategy is utilized at the relay sensor node. We investigate a joint power splitting (PS) and relay location (RL) optimization scheme for delay-sensitive transmission mode using the instantaneous channel state information (CSI). In particular, two optimization problems are formulated to minimize the outage probability and maximize the average capacity, respectively. For the two optimization problems, the optimal solutions to the PS ratio and RL are obtained based on the instantaneous CSI. On the basis of optimal solutions, the analytical expressions for outage probability and average capacity are derived, and the corresponding achievable throughputs are obtained. Numerical results verify the correctness of theoretical derivations and validate the advantages of our proposed scheme.