A cylindrical dielectric nanowire waveguide embedded with an eccentric hollow elliptical cylinder is designed. The mode characteristics of the first three modes supported by the waveguide are studied by the multipole method and verified by the finite element method. Results show that the waveguide has the best transmission performance when the symmetric center of the hollow elliptical cylinder is located on the
y
axis of the cylindrical dielectric nanowire. The influence of the working wavelength, the Fermi energy, and the dielectric constant of region II on the transmission performance of the waveguide is great, while the influence of the semi-long axis, the semi-short axis of the elliptic cylinder, the radius of the cylinder, and the minimum distance between two rods on the transmission performance of the waveguide is less. Compared with the other waveguide structures, the waveguide introduced in this paper has a better overall transmission performance. This kind of waveguide can provide a theoretical basis for the design, fabrication, and application of graphene-coated nested nanowire waveguides.