To accurately extract the fault characteristics of vibration signals of rotating machinery is of great significance to the unit online monitoring and evaluation. However, because the current feature extraction methods are mainly for single channel, the results of feature extraction are often inaccurate. To this end, a coupling fault feature extraction method based on bivariate empirical mode decomposition (BEMD) and full spectrum is proposed for rotating machinery. Firstly, the two-dimensional orthogonal signal obtained by orthogonal sampling technique is decomposed by bivariate empirical mode decomposition to obtain the intrinsic mode function with phase information. In order to obtain the sensitive modal components, the sensitivity coefficients are constructed on the basis of mutual information. Then, the sensitivity coefficient of each intrinsic mode function is calculated, and the intrinsic mode function with the larger sensitive coefficient is selected as the sensitive component. Finally, the full spectrum of the sensitive component is obtained using the full vector envelope technique, so as to get a comprehensive and accurate characteristic component. The results of simulations experiment and an application example show that this method can extract the fault characteristic component of the rotating machinery comprehensively and accurately. It is of great significance to realize the accurate diagnosis of coupling faults of rotating machinery.