The multi-mode Dicke model, which describes many atoms interacting with the multi-mode photons, has attracted much attention; it not only exhibits rich quantum phases, but also has an important application in quantum information. In this paper, we explore the ground-state properties of the two-mode Dicke model by the Holstein-Primakoff transformation and Boson expansion method, and theoretically predict a new first-order quantum phase transition. In the experiment, this quantum phase transition could be detected by measuring the mean-photon number or the atom population.