To better study the biology and ecology of hadal trenches for marine scientists, the Hadal Science and Technology Research Center (HAST) of Shanghai Ocean University proposed to construct a movable laboratory that includes a mothership, several full-ocean-depth (FOD) submersibles, and FOD landers to obtain samples in the hadal trenches. Among these vehicles, the project of an FOD autonomous and remotely-operated vehicle (ARV) named “Dream Chaser” was started in July 2018. The ARV could work in both remotely-operated and autonomous-operated modes, and serves large-range underwater observation, on-site sampling, surveying, mapping, etc. This paper proposed a novel three-body design of the FOD ARV. A detailed illustration of the whole system design method is provided. Numerical simulations and experimental tests for various sub-systems and disciplines have been conducted, such as resistance analysis using the computational fluid mechanics method and structural strength analysis for FOD hydrostatic pressure using the finite element method and pressure chamber tests. In addition, components tests and the entire system tests have been performed on land, underwater, and in the pressure chamber in the laboratory of HAST, and the results are discussed. Extensive experiments of two critical components, i.e., the thrusters and ballast-abandoning system, have been conducted and further analyzed in this paper. Finally, the procedures and results of lake trials, South China Sea trials and the first phase of Mariana Trench sea trials of the ARV in 2020 are also introduced. This paper provides a design method for the novel three-body FOD ARV. More importantly, the lessons learned from the FOD pressure test, lake tests, and sea trials, no matter the success or failure, will guide future endeavors and the application of ARV Dream Chaser and underwater vehicles of this kind.