A multi-channel Raman lidar has been developed, allowing for the first time simultaneous and high-resolution profiling of hydrogen gas and water vapor. The lidar measures vibrational Raman scattering in the UV (355 nm) domain. It works in a high-bandwidth photon counting regime using fast SiPM detectors and takes into account the spectral overlap between hydrogen and water vapor Raman spectra. Measurement of concentration profiles of H2 and H2O are demonstrated along a 5-meter-long open gas cell with 1-meter resolution at 85 meters. The instrument precision is investigated by numerical simulation to anticipate the potential performance at longer range. This lidar could find applications in the French project Cigéo for monitoring radioactive waste disposal cells.