We report an efficient continuous-wave (CW) and passively Q-switched dual-wavelength Nd:LuLiF4 laser at 1314 and 1321 nm for the first time. Maximum CW output power of 6.08 W is obtained, giving an optical-to-optical conversion efficiency of 30.2% and a slope efficiency of 32.1%. Even using high doping V3+:YAG as the saturable absorber to passively Q-switch the laser, stable dual-wavelength operation remains. Maximum pulse energy extracted from the resonator is 108.7 μJ at 17.2 kHz pulse-repetition rate, and maximum peak power is 885 W.