In this paper, a novel double-gate trench silicon-on-insulator (SOI) lateral double-diffused metal oxide semiconductor field-effect transistor (LDMOS) with double-dielectric material (DGDK-LDMOS) is proposed. DGDK-LDMOS has two dielectric materials: a reverse-L-shaped high-k (HK) thin film and an low-k (LK) buried oxide layer. The HK thin film optimizes the electric field distribution on the drift region surface, attracting electric flux, and the excellent withstand voltage of the LK buried oxide layer can significantly improve the breakdown voltage (BV) and reduce specific on-resistance (Ron,sp) of the device. The modulation mechanism of LDMOS by HK thin film and LK buried oxide layer is analyzed. The results show that compared with conventional LDMOS (C-LDMOS), when the permittivity of HK thin film is 25 and the permittivity of LK buried oxide is 3, the BV of DGDK-LDMOS is increased by 89.6%, the Ron,sp is decreased by 26.4%, and the figure of merit (FOM, FOM = BV2/Ron,sp) is increased by 397.2% from 3.6 MW·cm−2 to 17.9 MW·cm−2. Meanwhile, the output characteristics, transfer characteristics, lattice temperature, AC characteristics and switching characteristics of DGDK-LDMOS are also discussed and compared.