This paper reports a new three-dimensional continuous autonomous chaotic system, which is different from the Lorenz, Chen and Lü systems. The new system contains two quadratic cross-product terms and four system parameters. Basic dynamic properties of the new system are studied by means of theoretical analysis, numerical simulation, Lyapunov exponent spectrum, bifurcation diagrams and Poincaré section diagrams. The different dynamic behaviors of the new system are analyzed when each system parameter is changed.