A new and distinct variety of strawberry (Fragaria×ananassa), which originated from seed produced by a hand-pollinated cross between ‘FL 05-107’ and ‘FL 02-58’. The new strawberry, named ‘Florida127’, is distinguished by its ability to produce consistently high yields of large and moderately firm, brightly colored fruit that are exceptionally sweet in flavor when grown in west central Florida or other areas that have a subtropical climate similar to that of west central Florida.