A low voltage dual-period liquid crystal (LC) grating with tunable diffraction efficiency is demonstrated. Different periods can be achieved by controlling the driving scheme. Diffraction efficiencies of 25.9% for the small-period LC grating and 20.9% for the large-period LC grating have been realized. The diffraction angle can be alternatively tuned, as well as the diffraction efficiency by applying voltage to the top or bottom in-plane switching (IPS) electrodes. The driving voltage of the tunable LC grating is as low as 4.8 V, which shows great potential for diffractive optics components.