A stable three-channel dual-wavelength fiber ring laser is proposed and experimentally demonstrated. The digital micromirror-device (DMD) processor can select and recirculate any dual waveband from the gain spectrum of the erbium-doped fiber at each channel. The uniform and stable dual-wavelength oscillation is obtained by a highly nonlinear photonic crystal fiber, which causes two degenerate the four-wave-mixing processes. By loading different reproducibility diffraction gratings on the optoele