A novel bifrequency-magnetically insulated transmission line oscillator(MILO) with axial partition is put forward. The interaction field between beam and microwave of this kind of MILO is separated into 2 pieces of slow wave structure (SWS) which have different period and cavity depth. Bifrequency microwave is gained because of interaction between beam and microwave in SWS pieces with different frequency character. A 2.5-D full electro-magnetic numerical simulation is conducted by using PIC software at diode voltage of 450 kV and beams current of 40 kA. A microwave pulse TEM mode with power of 1.4 GW and an efficiency of 7% is obtained. Output frequencies are 1.25 GHz and 1.65 GHz respectively with an amplitude difference of 1.5 dB.