The paper proposes an ultra-wideband frequency selective rasorber (FSR) with low infrared emissivity for the composite detection threat of both radars and infrared sensors. Firstly, the equivalent circuit (EC) method based on transmission line (TL) theory is utilized to analyze the absorption/transmission conditions. Then, based on the analysis above, sinusoidal microstrip lines with non-frequency-varying characteristics are adopted in the design, which significantly enhances the transmission bandwidth of FSR. The FSR demonstrates an absorption band ranging from 2.65 GHz to 8.80 GHz and a transmission band ranging from 9.15 GHz to 17.71 GHz. Furthermore, an infrared shielding layer (IRSL) exhibiting low emissivity in the infrared band and high transmittance in the microwave band is applied to the FSR. The simulation and experiment results verify that the IRSL-FSR demonstrates an ultra-wide transmission band ranging from 9.16 GHz to 17.94 GHz and an ultra-wide absorption band ranging from 2.66 GHz to 8.01 GHz. Additionally, it exhibits a low emissivity value (0.23) in 8–14 μm, providing a viable solution to the formidable challenge of radar-infrared bistealth for satellites and other communication-enabled flying platforms.