Based on threedimensional (3D) Lü chaotic system, and with the help of feedback control techniques, this paper reports a new 4D autonomous hyperchaotic system with five parameters and three nonlinear items, analyzes the dynamic properties of the system, as the new system has only one equilibrium, and studies the stability of corresponding equilibrium. Meanwhile the local dynamics such as Hopf bifurcation is rigorous derived; in addition, numerical analysis of phase trajectories, bifurcation and Lyapunov exponents verifies the existence of the hyperchaotic attractor, chaotic attractor and periodic attractor.