The photoluminescence correlation from a single CdSe nanocrystal under pulsed excitation is studied, and a single photon is realized at wavelength 655 nm at room temperature. The single colloidal CdSe quantum dot is prepared on a SiO2/silicon surface by a drop-and-drag technique. The long-term stability of the single-photon source is investigated; it is found that the antibunching effect weakens with excitation time, and the reason for the weakening is attributed to photobleaching. The lifetimes of photoluminescence from a single quantum dot are analyzed at different excitation times. By analyzing the probability distribution of on and off times of photoluminescence, the Auger assisted tunneling and Auger assisted photobleaching models are applied to explain the antibunching phenomenon.