A waveguide near-eye display (NED) with a dual-focal plane using a polarization-dependent lens device is proposed. The novel optical device is composed of a geometric phase holographic lens, a wave plate, and a circular polarizer, which is operating as a concave lens or a see-through optical window, depending on the polarization state of the input beam. Such property and ultra-thinness of about 1.5 mm can be applied to a combiner-eyepiece lens for augmented reality. This optical device attached to the waveguide provides two depth planes with polarization multiplexing. We have demonstrated that our proof-of-concept system has image planes at infinity and 20 diopters. The devised system can be expected to offer a better immersive experience, compared to a NED system with a single-focal plane.