A novel photonic crystal fiber with high birefringence and low loss is designed. Based on full vector finite element method, the effective refractive index, birefringence, dispersion, loss and field properties of the photonic crystal fiber are analyzed when we change the elliptical structure parameters. Results show that dispersion point control of the novel fiber in the range from 1300 nm to 1500 nm can be realized when we change ellipticity. When the ellipticity is 0.6, the fiber has a high birefringence of 2.55×10-2 and low loss of 2.4×10-2 dB/km. A zero dispersion point appears in the range from 1300 nm to 1500 nm. Performance of the novel fiber is better than that of the traditional fiber, and it has a certain application prospect in the field of optical communications and optical fiber sensing.