Deep neural networks perform poorly on heavily class-imbalanced datasets. Given the promising performance of contrastive learning, we propose Rebalanced Siamese Contrastive Mining (ResCom) to tackle imbalanced recognition. Based on the mathematical analysis and simulation results, we claim that supervised contrastive learning suffers a dual class-imbalance problem at both the original batch and Siamese batch levels, which is more serious than long-tailed classification learning. In this paper, at the original batch level, we introduce a class-balanced supervised contrastive loss to assign adaptive weights for different classes. At the Siamese batch level, we present a class-balanced queue, which maintains the same number of keys for all classes. Furthermore, we note that the imbalanced contrastive loss gradient with respect to the contrastive logits can be decoupled into the positives and negatives, and easy positives and easy negatives will make the contrastive gradient vanish. We propose supervised hard positive and negative pairs mining to pick up informative pairs for contrastive computation and improve representation learning. Finally, to approximately maximize the mutual information between the two views, we propose Siamese Balanced Softmax and joint it with the contrastive loss for one-stage training. Extensive experiments demonstrate that ResCom outperforms the previous methods by large margins on multiple long-tailed recognition benchmarks. Our code and models are made publicly available at: https://github.com/dvlab-research/ResCom.