Megastable chaotic systems are somehow the newest in the family of special chaotic systems. In this paper, a new megastable two‐dimensional system is proposed. In this system, coexisting attractors are in some islands, interestingly covered by megalimit cycles. The introduced two‐dimensional system has no defined equilibrium point. However, it seems that the origin plays the role of an unstable equilibrium point. Therefore, the attractors are determined as hidden attractors. Adding a forcing term to the system, we can obtain chaotic solutions and coexisting strange attractors. Moreover, the effect of three different values of the forcing term’s amplitude is studied. The dynamical properties of the designed system are investigated using attractor plots, bifurcation diagrams, and Lyapunov Exponents diagram. Phase portraits of the novel megastable oscillator are presented by FPGA design. Xilinx system generator block diagrams of the proposed system and trigonometric functions are also presented.