In this article, we propose an optical heterodyne common-path gyroscope which has common-path configuration and full-dynamic range. Different from traditional non-common-path optical heterodyne technique such as Mach-Zehnder or Michelson interferometers, we use a two-frequency laser light source (TFLS) which can generate two orthogonally polarized light with a beat frequency has a common-path configuration. By use of phase measurement, this optical heterodyne gyroscope not only has the capability to overcome the drawback of the traditional interferometric fiber optic gyro: lack for full-dynamic range, but also eliminate the total polarization rotation caused by SMFs. Moreover, we also demonstrate the potential of miniaturizing this gyroscope as a chip device. Theoretically, if we assume that the wavelength of the laser light is 1550nm, the SMFs are 250m in length, and the radius of the fiber ring is 3.5cm, the bias stability is 0.872 deg/hr.