Marine low-speed dual-fuel engines typically have two sets of fuel injection system, main-injection and micro-injection. In order to make the fuel injection system of marine low-speed dual-fuel engine compact in structure and flexible in injection control, an innovative dual injection mode injector (DIMI) which can achieve both the functions of main-injection and micro-injection was proposed. The switching between main-injection and micro-injection mode of the injector is achieved through the collaborative control of dual solenoid valves. Based on the constructed AMESim model, the injection quantity characteristic and hydraulic efficiency of the DIMI were investigated under different working conditions and injection modes. The results show that, when the DIMI in main-injection mode achieves injection quantity characteristic similar to those of a traditional electronically controlled injector (TECI), the electromagnetic forces of solenoid valves of the DIMI are less required to 80% of that of the TECI, and the fuel return quantity and hydraulic efficiency of the DIMI are comparable to those of the TECI under the same working conditions. By changing the minimum limit height of the needle of the DIMI under micro-injection mode, different ranges of micro-injection quantity could be designed according to the requirements of the engine, and the control accuracy of injection pulse width (IPW) on micro-injection quantity is higher than on main-injection quantity. Both the hydraulic efficiency of the DIMI under main-injection and micro-injection mode increase with the rail pressure and IPW in the small IPW range, then gradually tend to be saturated with the increase of IPW. As the minimum limit height of the needle increases, the injection quantity and hydraulic efficiency of the DIMI under micro-injection mode increases overall, however, the saturation values of the hydraulic efficiency in micro-injection mode under different needle minimum limit heights are still smaller than those in main-injection mode.