A two-phase immersion-type heat dissipation structure having fins with different thermal conductivities is provided. The two-phase immersion-type heat dissipation structure includes a heat dissipation substrate, and a plurality of fins. The heat dissipation substrate has a fin surface and a non-fin surface that face away from each other. The non-fin surface is configured to be in contact with a heating element immersed in a two-phase coolant. The fin surface is connected with the plurality of fins. At least one of the plurality of fins is a functional fin that is made of a single metal material and has two or more thermal conductivities. A thermal conductivity of a lower portion of the functional fin that is connected with the heat dissipation substrate is lower than thermal conductivities of other portions of the functional fin.