A dual-rotor in-wheel motor based on an axial magnetic field and a control method thereof are provided. The dual-rotor in-wheel motor includes an axle and a hub. The axle is fixedly connected to a frame. The hub relatively rotates around the axle. A disc-shaped intermediate stator is fixedly connected on the axle. A left coil assembly and a right coil assembly are fixedly mounted on two sides of the intermediate stator, respectively. A left rotor and a right rotor are respectively arranged on the two sides of the intermediate stator. The left coil assembly drives the left rotor to rotate, and the right coil assembly drives the right rotor to rotate. A left clutch is arranged between the left rotor and the hub, and a right clutch and a speed reduction mechanism are arranged between the right rotor and the hub.