A stable dual-wavelength erbium-doped fiber laser (EDFL) with tunable wavelength spacing and equalized output power is proposed and experimentally demonstrated. The fiber laser uses two fiber Fabry-Perot tunable filters (FFPTFs) as the wavelength filter. The main cavity is divided into two sub-cavities with imbalance cavity losses through a 30/70 optical coupler. The tunable wavelength spacing can be achieved by changing the center wavelength of the filters and the equalized dual-wavelength output power can be achieved by properly controlling the variable optical attenuator (VOA) inserted in the lower-loss cavity.