A novel magnetron memristor model based on the cubic smooth memristor is proposed, a new chaotic oscillation circuit of five-order is designed by using two magnetically smooth memristors, common capacitors and inductors. It is found that the dual-memristor system has the equilibrium point set. The phase diagram, Lyapunov exponent and bifurcation diagram are analyzed by using the conventional dynamics method. The dual-memristor chaotic circuit has complex dynamic behaviors. The motion trajectory is not only dependent on the circuit parameters but also affected by the initial state of the circuit. Strange attractors are explored in terms of energy, resulting in the coexistence of different periodic motions and different chaotic attractors with different topologies. The correctness of Matlab simulation and the realization of the circuit design are verified by PSpice.