Based on the foundation of a three-dimensional Jerk chaotic system, a novel four-dimensional chaotic system based on a memristor with cosine magneto-memristor is proposed. The system’s dynamical behavior is analyzed using bifurcation diagrams, Lyapunov exponents, multiple bifurcation diagrams, two-parameter Lyapunov exponents, complexity, and attractor basins. It is found that this new chaotic system exhibits characteristics such as multistability, transient chaos, intermittent chaos, spike discharge, controllable multi-vortex, and offset-boosting. The chaotic system is designed and simulated in analog circuit and realized in a digital circuit using a Field-Programmable Gate Array (FPGA). The consistency between simulation results and implementation results demonstrates the existence and feasibility of the system. Finally, the significance and superiority of the control scheme are verified based on the adaptive anti-synchronization control strategy, and the synchronization strategy is applied to image encryption, and the results show that the encryption effect is excellent and the anti-jamming ability is strong.