The invention discloses a relativistic magnetron with a double-terminal emitting cathode structure, which belongs to the field of microwave technology. The relativistic magnetron is a full-cavity axial extraction structure, including an anode shell, a high-frequency structure, an energy coupling slot, a fan-shaped waveguide, a coaxial waveguide, a TEM‑TM01 mode converter, an output circular waveguide, a guiding magnetic field coil, and a cathode structure , wherein the cathode structure includes two cathode end caps, two emitter cathodes arranged symmetrically, and a central connecting conductor. The invention adopts the virtual cathode scheme, which can effectively solve the problems of pulse shortening, frequency drift, and efficiency reduction caused by the plasma generated by explosive emission in the interaction interval, and can effectively improve the output power and power conversion of the relativistic magnetron efficiency.