In an orchard environment with a complex background and changing light conditions, the banana stalk, fruit, branches, and leaves are very similar in color. The fast and accurate detection and segmentation of a banana stalk are crucial to realize the automatic picking using a banana picking robot. In this paper, a banana stalk segmentation method based on a lightweight multi-feature fusion deep neural network (MFN) is proposed. The proposed network is mainly composed of encoding and decoding networks, in which the sandglass bottleneck design is adopted to alleviate the information a loss in high dimension. In the decoding network, a different sized dilated convolution kernel is used for convolution operation to make the extracted banana stalk features denser. The proposed network is verified by experiments. In the experiments, the detection precision, segmentation accuracy, number of parameters, operation efficiency, and average execution time are used as evaluation metrics, and the proposed network is compared with Resnet_Segnet, Mobilenet_Segnet, and a few other networks. The experimental results show that compared to other networks, the number of network parameters of the proposed network is significantly reduced, the running frame rate is improved, and the average execution time is shortened.