High-performance co-polyimide (co-PI) fibers derived from 3,3`4,4`-biphenyldianhydride (BPDA), p-phenylenediamine (p-PDA) and 2-(4-aminophenyl)-5-amino-benzimidazole (BIA) were prepared via the wet spinning and dry-jet wet spinning method, respectively. The distinctions between wet spinning and dry-jet wet spinning processes on the structures and properties of co-PI fibers were systematically investigated. The co-PI fibers prepared by dry-jet wet spinning exhibited smoother surface morphology and higher mechanical properties than those of co-PI prepared by wet spinning. Wide-angle X-ray diffraction (WAXD) results showed that the co-PI fibers prepared by dry-jet wet spinning exhibited highly oriented structure along the fiber direction along with a low degree of lateral packing order in the transverse direction. Small-angle X-ray scattering (SAXS) revealed that the radius, length, misorientation and internal surface roughness of the microvoids in the co-PI fibers prepared by the dry-jet wet spinning are lower than those in co-PI fibers prepared by wet spinning. Moreover, the effect of air layer height, as well as the heat treatment on the structure and properties of fibers during the dry-jet wet spinning process, was also studied. The tensile strength and modulus of co-PI fibers prepared by dry-jet wet spinning reached 2.72 GPa and 114.29 GPa, respectively, with an air layer height of 10 mm and a heat stretching temperature of 440°C.