Picometer laser interferometry is an essential tool for ultra-precision measurements in frontier scientific research and advanced manufacturing. In this paper, we present a dual-heterodyne laser interferometer for simultaneously measuring linear and angular displacements with resolutions of picometer and nanoradian, respectively. The phase measurement method is based on cross-correlation analysis and realized by a PXI-bus data acquisition system. By implementing a dual-heterodyne interferometer with a highly symmetric optical configuration, low frequency noises caused by the environmental fluctuations can be suppressed to very low levels via common-mode noise rejection. Experimental results for the dual-heterodyne interferometer configuration presented demonstrate that the noise levels of the linear and angular displacement measurements are approximately 1 pm/Hz(1/2) and 0.5 nrad/Hz(1/2) at 1 Hz.