In this work, we propose a dual-band optical diode based on a bilayer T-shaped metamaterial. This optical diode can conveniently convert the x-polarized wave to y-polarized one at about 106 THz and convert the y-polarized to x-polarized wave at around 163 THz when linearly polarized waves impinge on the sample under a forward normal incidence (+z direction). The dual-band polarization conversion ratios can reach up to 99.9 % and 99.6 % at 106 and 163 THz, respectively. In addition, the bi-layer metamaterial works as an optical diode located around the frequencies 106 and 163 THz, i.e. the x- and y-polarized plane waves can pass through the metamaterial in the forward direction, however, they are prevented from backward. The maximum asymmetric transmission parameters are 0.46 and 0.50. At last, both the ratios and bandwidth of dual-band cross-polarization conversion can be conveniently manipulated by the rotation angle θ. This proposed dual-band polarization conversions and optical diode may have promising applications in optical nano-devices, such as optical switches and polarization converters.