Bimetallic lanthanide metal-organic frameworks (bi-Ln-MOFs) exhibit great appeal for ratiometric luminescent sensors due to their unique advantages. Specially, the low-lying energy of the empty 4f band of Ce4+ ions benefits Ce-MOFs with robust and broad fluorescent emission. Therefore, constructing ratiometric sensors based on Ce-MOFs is of significance but remains a challenge. Here, a two-dimensional (2D) bi-Ln-MOF is fabricated using Eu3+/Ce4+ and 5-boronoisophthalic acid (5-bop) via a crystal phase transformation strategy to construct a ratiometric luminescent Hg2+ sensor. Due to the lower energy gap of Ce4+ compared to Eu3+ and the corresponding stronger energy-absorption ability, the Ce4+ in bi-Ln-MOF shows a stronger and broader fluorescent emission than that of Eu3+. The substitution of the boric acid group in the bi-Ln-MOF by Hg2+ amplifies the difference between the two lanthanide ions. Therefore, the fluorescence intensity of Ce4+ increases whereas that of Eu3+ decreases accordingly, a behavior distinct from individual Eu-MOF or Ce-MOF performance. This novel bi-Ln-MOF sensor not only achieves a wide linear response range from 0.5 to 120 μM with a low detection limit of 167 nM for Hg2+, but also demonstrates exceptional selectivity and stability. The intriguing sensing mechanism of energy competition and the novel synthesis approach for 2D bi-Ln-MOF are anticipated to broaden the application possibilities of bi-Ln-MOFs for designing ratiometric sensors.