In this paper, we investigate the precoder design for multiple-input multiple-output (MIMO) dual-functional radar-communication (DFRC) system with one-bit digital-to-analog converters (DACs). In order to form the dual-functional beam-pattern, we formulate the precoding problem as a weighted optimization problem with the constant modulus constraint, which aims at minimizing the average error power and guaranteeing radar waveform similarity. The problem is divided into three sub-problems corresponding to the multiple variables, i.e., the precoding factor, transmit signal matrix, and radar waveform matrix. Due to the discrete and non-convex properties of the optimization problem, we propose a multi-variable alternating minimization (MVAM) framework to achieve the near-optimal solutions. The precoding factor and radar waveform can be solved in closed-forms. For the transmit signal matrix, we devise a binary particle swarm optimization-simulated annealing (BPSO-SA) algorithm to obtain it under the MVAM framework. Extensive simulations validate the effectiveness of the proposed approach under various scenarios, including the case without perfect channel state information. The simulation results show that, compared with existing non-linear precoders, the proposed approach achieves 7dB SNR gain at the bit error rate of 10 <sup xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink">−4</sup> in the 8-antenna system, and the gain of SNR is 0.2dB in the massive MIMO system with 128 antennas.