Abstract First we construct a new isospectral problem with 8 potentials in the present paper. And then a new Lax pair is presented. By making use of Tu scheme, a class of new soliton hierarchy of equations is derived, which is integrable in the sense of Liouville and possesses bi-Hamiltonian structures. After making some reductions, the well-known AKNS hierarchy and other hierarchies of evolution equations are obtained. Finally, in order to illustrate that soliton hierarchy obtained in the paper possesses bi-Hamiltonian structures exactly, we prove that the linear combination of two-Hamiltonian operators admitted are also a Hamiltonian operator constantly. We point out that two Hamiltonian operators obtained of the system are directly derived from a recurrence relations, not from a recurrence operator.