In this paper, a novel dual-gate and dielectric-inserted lateral trench insulated gate bipolar transistor (DGDI LTIGBT) structure, which features a double extended trench gate and a dielectric inserted in the drift region, is proposed and discussed. The device can not only decrease the specific on-resistance R on,sp , but also simultaneously improve the temperature performance. Simulation results show that the proposed LTIGBT achieves an ultra-low on-state voltage drop of 1.31 V at 700 A•cm −2 with a small half-cell pitch of 10.5 µm, a specific on-resistance R on,sp of 187 mΩ•mm 2 , and a high breakdown voltage of 250 V. The on-state voltage drop of the DGDI LTIGBT is 18% less than that of the DI LTIGBT and 30.3% less than that of the conventional LTIGBT. The proposed LTIGBT exhibits a good positive temperature coefficient for safety paralleling to handling larger currents and enhances the short-circuit capability while maintaining a low self-heating effect. Furthermore, it also shows a better tradeoff between the specific on-resistance and the turnoff loss, although it has a longer turnoff delay time.