The electrical and the optical characteristics of dual-wavelength light-emitting diode (LED) with the newly designed selective p-doped barriers are investigated numerically. The simulation results show that the selective p-doped barriers can improve the distribution equilibria of electron and hole concentrations in each quantum well (QW). The radiative recombination rate of QW is enhanced remarkably when specific number of p-doped barriers is adopted, and the electron leakage current is suppressed obviously with this new design. Therefore, the internal quantum efficiency is improved and the trend of efficiency drooping with the increase of current injection is also alleviated. Moreover, the curve peaks of the spectrum become quite uniform when the specific number of vertically-stacked QWs is adopted, and the spectral regulation of the dual-wavelength LED is more effective.