This paper presents the development, control, and experimental validation of a novel bipedal robot with a passive tendon. The robot, featuring foldable legs, coaxial actuation, and compact folded size, is endowed with a leg configuration with a five-bar mechanism. Based on biological observations of human walking, a passive artificial tendon made of emulsion is fabricated to work in conjunction with a tensioning device, providing adaptive heel touchdown and toe push-off in sync with single-leg movement. The tailored control framework for the bipedal robot is further established with the double-layer architecture. The regulation layer employs the linear inverted pendulum (LIP) model to generate reference trajectory of the center of mass (CoM) with a dead-beat style of parameter adjustment. An inverse-dynamics-based whole-body controller (WBC) is applied to enforce the full-order dynamics of the bipedal robot to reproduce the LIP model’s behavior. We carry out the experiments on the physical prototype to evaluate the walking performance of the developed bipedal robot. The results show that the robot achieves stable walking at the speed of 0.8 m/s (almost twice the leg length/s) and exhibits robustness to external push disturbance.