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A novel hypderchaotic system with two larger Lyapunov exponents and wider parameter range is built based on the three-order Qi chaotic system. The properties of this system are studied detailedly, such as the balance point and stability, Lyapunov exponent spectrum and the fractal dimension, and the phase portraits of hyperchaotic attractor. A practical circuit is designed to realize the system by EDA technology based on FPGA platform. The experimental result is in full accord with the simulation result.