In order to enrich the stability and bifurcation theory of the three dimensional chaotic systems, taking a quadratic truncate unfolding system with the triple singularity equilibrium as the research subject, the existence of the equilibrium, the stability and the bifurcation of the system near the equilibrium under different parametric conditions are studied. Using the method of mathematical analysis, the existence of the real roots of the corresponding characteristic equation under the different parametric conditions is analyzed, and the local manifolds of the equilibrium are gotten, then the possible bifurcations are guessed. The parametric conditions under which the equilibrium is saddle-focus are analyzed carefully by the Cardan formula. Moreover, the conditions of codimension-one Hopf bifucation and the prerequisites of the supercritical and subcritical Hopf bifurcation are found by computation. The results show that the system has abundant stability and bifurcation, and can also supply theorical support for the proof of the existence of the homoclinic or heteroclinic loop connecting saddle-focus and the Silnikov's chaos. This method can be extended to study the other higher nonlinear systems.