A two-color visible frequency comb system based on a 1.5-μm all-polarization-maintaining (PM) fiber femtosecond laser was developed. This configuration relies on the implementation of three amplifiers, seeded by a single master oscillator. With the repetition rate (fr) of the oscillator locked to a reference frequency of 200 MHz, the output of the first amplifier was used to generate the feedback signal and achieve simultaneous phase lock of the carrier envelop offset frequency (fceo). The remaining two independently configurable amplifiers followed by highly nonlinear fibers and MgO-doped periodically poled lithium niobite crystals were used to produce visible comb lights at 543 and 633 nm (in air), respectively. By referencing to a hydrogen maser, the Allan deviations of fr and fceo at a gate time of 1 s are 438 μHz and 63 mHz, respectively. The spectral bandwidths of the 543- and 633-nm comb lights are 0.157 and 0.174 nm, respectively, and the single-mode powers of these comb lights are higher than 1 μW. The multiple-branch all-PM fiber-based visible frequency comb system exhibiting a narrow spectrum and a high single-mode power will facilitate the development of optical clocks and wavelength standard calibrations. © 2020 Society of Photo-Optical Instrumentation Engineers (SPIE).