Accurate identification of aerosols and cloud from remote sensing observations is of importance for quantitatively evaluating their radiative forcing and related impacts. Even though polarization lidar has exhibited a unique advantage of classifying atmospheric aerosols and clouds over the past several decades, polarization measurements are often achieved at one wavelength (UV or VIS) using laser remote sensing. To better identify the types of aerosols and clouds, we developed a ground-based dual-polarization lidar system that can simultaneously detect polarization measurements at wavelengths of 355 nm and 532 nm. Our results show that the volume depolarization ratios (VDRs) at 355 nm and 532 nm markedly differ for typical types of aerosols and clouds in the atmosphere. For non-spherical particles, the ratio of VDRs at 532 nm and 355 nm are 2.87 ± 1.35 for ice cloud and 1.51 ± 0.29 for dust-dominated aerosols, respectively. However, for spherical particles, the ratios are 0.43 ± 0.26 for water cloud and 0.56 ± 0.05 for air pollutants. Consequently, we proposed a simple reliable method for classifying atmospheric aerosols and clouds from polarization measurements observed by the developed lidar system. The proposed method first distinguishes clouds from aerosols using a combination of the color ratio (CR, 532 nm/355 nm) and attenuated backscattering coefficients (ABC) at 532 nm. Then, subtypes of clouds and aerosols are identified based on the ratio of VDRs at 532 nm and 355 nm. The results showed that dual-polarization lidar measurements can remarkably improve the classification of atmospheric aerosols and clouds, compared with results using a traditional method. This study illustrates that more information on atmospheric aerosols and clouds can be obtained from polarization measurements at multiple wavelengths by active remote sensing.