Abstract-In this paper, a double-layer split-ring resonator structure chiral metamaterial was proposed which could exhibit pronounced circular dichroism (CD) effect and negative refractive index at microwave frequencies. Experiment and simulation calculations are in good agreement. The retrieved effective electromagnetic parameters indicate that the lower frequency CD effect is associated with the negative refractive index property of the left circularly polarized (LCP) wave, and the upper one is to the right circularly polarized (RCP) wave. The mechanism of the giant CD effect could be further illustrated by simulated surface current and power loss density distributions.