This paper introduces a new class of operators called LM- operators, extending the concepts of L-weakly and M-weakly compact operators within the framework of Banach lattices. While L-weakly and M-weakly compact operators have established properties, LM-compact operators retain some of these characteristics but also diverge in certain respects. The study explores the relationships between LM -compact operators and some existing classes, and examines their algebraic properties and duality aspects.