An erbium-doped fiber (EDF) laser with single longitudinal mode (SLM), narrow linewidth, and switchable dual-wavelength based on a Lyot filter cascaded dual-ring cavity structure (DRCs) has been designed and constructed. In the experimental system, an Employed passive DRCs enhances the longitudinal mode spacing, while the Lyot filter effectively mitigates mode competition within the laser cavity. The composite filter structure facilitates stable dual-wavelength output while ensuring a consistent SLM output. Then, experimental results reveal optical signal-to-noise ratios (OSNR) with 62 dB for single-wavelength and 55 dB for dual-wavelength. Additionally, the power and wavelength fluctuations for both single-wavelength and dual-wavelength remained stable throughout monitoring periods of 20 min and 1 h, respectively. Meanwhile, a maximum tuning range of 2 nm is achieved by stretching a polarization-maintaining fiber Bragg grating (PM-FBG) using a fiber displacement stage. The linewidths of each wavelength are 2.8 kHz and 2.6 kHz, respectively. During the process of wavelength tuning, the fluctuations of linewidth do not exceed 0.3 kHz and 0.45 kHz, respectively. Simultaneously, the polarization states of each wavelength are measured, which reveals orthogonal single polarization. The relative intensity noise (RIN) is measured below −133 dB/Hz at frequencies above 1 MHz.