The development of methods for the convenient determination of the bleomycin (BLM) antibiotic is significantly important in the clinical therapy field. Herein we report a novel ratiometric fluorescence biosensing method for BLM assays by utilizing two target-sensitive fluorescent probes to produce reversible signal response. One signal arose from the target recognition-triggered and exonuclease III (Exo III)-catalytic release of a G-quadruplex sequence. This could cause the recombination of the G-quadruplex with thioflavin T (ThT) to realize the “signal-on” fluorescence output. The other signal arose from the target recognition and Exo III-catalytic reaction-induced DNA hybridization of a ROX fluorophore-labeled strand with its quencher-labeled strand. This proximity quenching effect could realize the “signal-off” fluorescence output of the method. Meanwhile, the dually Exo III-catalytic recycling greatly amplified the ThT and ROX-based fluorescence response. Through the measurement of the ratio of the two reversible responses, a novel ratiometric fluorescence biosensing method was successfully constructed for the homogeneous assay of BLM in a very wide linear range from 50 pM to 5 μM, with a very low detection limit of 15.8 pM. The excellent analytical performance, convenient manipulation, and low assay cost of the method determine its high potential for future applications. • We designed two target-sensitive fluorescence probes for ratiometric assays of BLM. • ThT and ROX-based fluorescence signals provided reversible response for biosensing. • Dually Exo III-catalytic recycling reactions greatly amplified the two responses. • The smart DNA design decided the highly selective homogeneous assay of the method. • This biosensing method exhibited excellent performances for the POCT application.