Although highly desirable, the experimental technology of the dynamic mechanical properties of materials under multiaxial impact loading is rarely explored. In this study, a true-biaxial split Hopkinson pressure bar device is developed to achieve the biaxial synchronous impact loading of a specimen. A symmetrical wedge-shaped, dual-wave bar is designed to decompose a single stress wave into two independent and symmetric stress waves that eventually form an orthogonal system and load the specimen synchronously. Furthermore, a combination of ground gaskets and lubricant is employed to eliminate the shear stress wave and separate the coupling of the shear and axial stress waves propagating in bars. Some confirmatory and applied tests are carried out, and the results show not only the feasibility of this modified device but also the dynamic mechanical characteristics of specimens under biaxial impact loading. This novel technique is readily implementable and also has good application potential in material mechanics testing.