In this paper, the authors present an iterative regularization algorithm to simultaneously reconstruct all the model parameters, including the virgin formation resistivity, flushed zone resistivity, invasion radius, horizontal boundary depth and mud resistivity per bed, from dual-laterolog (DLL) data based on nonlinear inversion theory and Morozov discrepancy principle. The authors firstly adopt Tikhonov regularization inversion theory to transform the inversion problem into the minimization problem of non-quadratic objective function with the stabilizing functional defined on model space, and use Gauss-Newton method to obtain the minimization of objective function. Then, the combination of Morozov discrepancy principle and Cholesky decomposition is executed to propose an a-posteriori regularization factor choice strategy in order to obtain a stable inversion solution as well as to realize best fit of input data with modeling logs. Finally, the inversion results of theoretical modeling data and field logs measured from Daqing oil field prove that the inversion method can produce more satisfactory effect.