This paper utilizes overlapping grids and large eddy simulation to numerically investigate the self-propulsion of an underwater vehicle in a two-layer fluid. The study focuses on the evolution and propagation of the flow field at both fluid interfaces and conducts a parametric analysis of the Froude number (Fr), submergence depth (h), and density ratio (γ). Particular attention is paid to variations in wave height at the free surface (η1) and internal interface (η2), and surface divergence (div). The distribution of the pressure coefficient on the hull surface and the vortex structures behind the vehicle are also examined. The findings show that as Fr increases from 0.221 to 0.886 and h decreases from 0.09 m to 0.02 m, the wave pattern at the free surface shifts from transverse to predominantly divergent wave, with more rapid lateral propagation. At h = 0.02 and 0.03 m, the surface divergence forms a distinct spindle-shaped pattern, and internal waves occupy a significant region behind the vehicle. Regarding γ, the results vary with the vehicle's position. In the upper fluid layer, η1max, η1min, η2max, η2min, divmax, and divmin show a strong positive correlation with γ. Conversely, in the lower fluid layer, these parameters exhibit an almost linear negative correlation, and the relationships η1min = −1.51γ + 1.94, η2max = −0.55γ + 2.81, η2min = −3.40γ + 4.66, and divmin = −1.38γ + 1.90 are satisfied. Specifically, from γ = 0.50 to γ = 1.00, η1max, η1min, divmax, and divmin decrease by 62.84%, 62.55%, 9.04%, and 47.89%, respectively.