In this paper, a new photonic crystal fiber (PCF) with two zero dispersion wavelengths (ZDWs) based on the tellurite ellipse core is designed. The air holes in the cladding region have a V-shape distribution, which can increase the birefringence. By adjusting the size of tellurite ellipse core, different birefringence and nonlinearity coefficient can be obtained, and the dispersion can also be tailored. When the long axis of the tellurite ellipse core is 0.5 μm and the short axis is 0.25 μm, the birefringence of 7.66 × 10−2 and nonlinearity of 3400 W−1 km−1 around 1550 nm are obtained. This PCF structure provides a way to get the high birefringence and nonlinearity at the same time, which can find extensive applications in the optical communication and sensor system.