This work reports a newly preheated system with pulverized coal oxy-fuel moderate or intense low-oxygen dilution (MILD) combustion for low NOx emissions. During the experiment, high-temperature fuel preheated by a circulating fluidized bed unit would burn out in a down-fired combustor. This preheating process of pulverized coal tended to form a strong reducing atmosphere and promoted the fuel temperature above the ignition temperature, which contributed to NOx reduction and MILD combustion formation. During the oxy-fuel MILD combustion process, the CO2 concentration of flue gas reached approximately 95%, the NO2 and N2O emissions were nearly zero, and the NO emissions were 107.99 mg/MJ. The combustion efficiency was 98.21%, which indicates that the combustion efficiency would not decrease in MILD combustion. Also, NO emissions were further reduced to 37.25 mg/MJ through a rational arrangement of tertiary gas positions. For pulverized coal combustion, the accurate definition of MILD combustion should consider the disappearance of flame front besides the feature of temperature distribution.