A dual-mode and dual-standby mobile terminal and a dual-channel implementation method thereof, and the dual-mode and dual-standby mobile terminal includes a first mode radio frequency transceiver, a second mode radio frequency transceiver, a first mode baseband chip connected to the first mode radio frequency transceiver, and a second mode baseband chip connected to the second mode radio frequency transceiver, and the mobile terminal further includes: a call processing module, which is connected to both the first mode baseband chip and the second mode baseband chip and used to perform fake call waiting processing on a call in active state in the first mode before proactively switching to a first call in a second mode when determining that there are two calls in the first mode or passively answering a second call in the second mode when determining that there are two calls in the first mode.