Based on the study of Chua’s circuit, a novel chaotic system is reported. Basic dynamical properties of the new system are further investigated via theoretical analysis and numerical simulation, including Lyapunov exponent, Lyapunov dimension, portrait diagrams, Lyapunov exponent spectrum, bifurcation diagrams, Poincaré mapping and power spectrum. Finally, an electronic circuit is designed by the Orcad-PSpice softeware to implement the new system. The investigation results show that the new chaotic system has broad parameter regions, an maximum Lyapunov exponent approaching one, and is not topologically equivalent to Chua’s circuit. It also shows a good agreement between numerical simulation and circuit experimental simulation, which proves the existence and physical realizability of the new chaotic system.