As the main way of international capital flow and an important carrier of international technology spillover, have inward foreign direct investment (IFDI) and outward foreign direct investment (OFDI) improved the green development quality of the logistics industry? Based on the panel data of 27 provinces in China from 2006 to 2015, this paper uses the panel model to empirically test the impact of two-way FDI on the green development quality of the logistics industry. This paper mainly draws the following research conclusions: (1) Two-way FDI had significantly improved the green development quality of the logistics industry, and the promotion effect of IFDI was stronger than that of OFDI, indicating that two-way FDI is a key approach of enhancing the quality of the green development. (2) The impact of two-way FDI on the green development quality has spatial-temporal heterogeneity. Specifically, only in the eastern region, IFDI and OFDI have played a significant role in promoting the green development of the logistics industry at the same time; the role of IFDI in improving the green development quality of the logistics industry has weakened over time, while OFDI has strengthened. (3) The effect of two-way FDI on the green development quality of the logistics industry was affected by the environmental regulation intensity. With the improvement of environmental regulations intensity, the impact of IFDI on the green development quality of the logistics industry presents an “inverted U” trend that first rises and then decreases. The impact of OFDI on the green development quality of the logistics industry presents a gradually increasing characteristic.