A high-average-power, high-repetition-rate dual signal optical parametric oscillator based on periodically poled MgO-doped lithium niobate (PPMgLN) with a phase-reversed grating is reported. The pump laser is an acousto-optically Q-switched Nd:YVO4 laser with a maximum average power of 7.6 W. When the repetition rate is 50 kHz and the pulse width of the pump source is 23 ns, the maximum average dual signal output power is about 1.9 W, leading to a conversion efficiency of 25%. Over a 30-min interval, the instability of the signal power measured is less than 0.5%.