This article proposes a new dual-stator consequent-pole (CP) flux reversal machine with triple-PM excitation (T-DSCPFRPMM), in which the two stators and rotor are all incorporated with CP permanent magnet (PM) arrangement. The employment of triple-PM excitation is beneficial to enhance the flux densities in the inner and outer air gaps. In addition, the ferromagnetic poles of rotor and stators are, respectively, used to modulate the magnetic field excited by stator-PM and rotor-PM, which introduces the bidirectional flux modulation effect into the proposed machine to enhance the torque production. The topology, operation principle, and design consideration of the proposed T-DSCPFRPMM are analyzed, respectively. The electromagnetic performances of the proposed machine under stator-PM excitation only, rotor-PM excitation only, and triple-PM excitation are evaluated and compared by finite-element analysis. The predicted results show that by using triple-PM excitation, the proposed machine can offer the superior torque production with low torque ripple, excellent overload torque capability, high efficiency and high-power factor, which are desirable for direct-drive applications.