Topological semimetals, representing a new topological phase that lacks a full band gap in bulk states and exhibiting nontrivial topological orders, recently have been extended to photonic systems, predominantly in photonic crystals and to a lesser extent metamaterials. Photonic crystal realizations of Dirac degeneracies are protected by various space symmetries, where Bloch modes span the spin and orbital subspaces. Here, we theoretically show that Dirac points can also be realized in effective media through the intrinsic degrees of freedom in electromagnetism under electromagnetic duality. A pair of spin-polarized Fermi-arc-like surface states is observed at the interface between air and the Dirac metamaterials. Furthermore, eigenreflection fields show the decoupling process from a Dirac point to two Weyl points. We also find the topological correlation between a Dirac point and vortex or vector beams in classical photonics. The experimental feasibility of our scheme is demonstrated by designing a realistic metamaterial structure. The theoretical proposal of the photonic Dirac point lays the foundation for unveiling the connection between intrinsic physics and global topology in electromagnetism.