In this study, we present a dual-Fizeau-interferometer-based high-speed and wide-range fiber-optic Fabry-Perot (F-P) demodulation system. We employ two Fizeau interferometers with air cavity thickness satisfying the quadrature requirement to increase the demodulation speed and broaden the demodulation range in order to address the issues of the existing fiber F-P demodulation system’s sluggish demodulation rate and limited range. In order to investigate the demodulation properties of the dual-Fizeau-interferometer-based demodulation system, we derive and create a theoretical model of the system. The theoretical model, which primarily consists of the structural design of the interferometer and the study of the center wavelength of the light sources and their bandwidth selection, is used to construct the optical structure of the demodulation system. According to the calculation results, the demodulated signal exhibits the best contrast ratio when the two light sources’ respective center wavelengths are 780 nm and 850 nm, and their bandwidths are 28 nm and 30 nm. Finally, we finish evaluating the demodulation system’s demodulation performance, parameter calibration, and assembly debugging. The test results demonstrate the constant operation of the demodulation system, an update rate of 100 kHz, a demodulation range of 4.74 μm, and a cavity length resolution of approximately 5 nm. Additionally, the system can perform high speed demodulation thanks to the light emitting diode’s (LED’s) nanosecond level switching speed and the usage of a single point detector.