In this paper a new chaotic system is presented. Some of its basic dynamical properties are studied. An electronic circuit is designed to realize the new chaotic system. Experimental chaotic behavior of the system is found to be identical to the dynamical properties predicted by theoretical analysis and numerical simulations. Based on Lyapunov stability theory, the new chaotic system is controlled by the method of adaptive backstepping. Numerical simulation shows the feasibility and effectiveness of this approach.