The invention provides a dual-mode underwater wireless optical communication method. An LD high-speed receiver is arranged at the center of a lens of a first party wireless optical communication device, and an LED array is uniformly arranged at the periphery of the lens; a four-quadrant photoelectric detector is arranged at the center of the lens of a second party wireless optical communication device, and an LD light source is arranged adjacent to the four-quadrant photoelectric detector. When the first party wireless optical communication device and the second party wireless optical communication device are in communication, the first party irradiates the second party by using an LED light source modulated with a low-speed communication signal, after receiving the first party LED light source signal, the four-quadrant photoelectric detector on the second party lens demodulates a low-speed communication signal therein to realize the low-speed communication to the second party from thefirst party, and the LED light source location of the first party is detected at the same time, and a servo device is controlled to turn the second party lens to the first party lens to perform the alignment; after the second party lens is aligned with the first party lens, the second party LD light source is irradiated to the center of the first party lens to realize the high-speed communicationto the first party from the second party. By sufficiently utilizing the advantages of the LED and the LD light sources, the alignment is easy, the use is convenient, and the high-speed communicationcan be realized.