This study investigates a class of two-dimensional, two-parameter squared discrete dynamical systems. It determines the conditions for local stability at the fixed points for these proposed systems. Theoretical and numerical analyses are conducted to examine the bifurcation behavior of the proposed systems. Conditions for the existence of Naimark–Sacker bifurcation, transcritical bifurcation, and flip bifurcation are derived using center manifold theorem and bifurcation theory. Results of the theoretical analyses are validated by numerical simulation studies. Numerical simulations also reveal the complex bifurcation behaviors exhibited by the proposed systems and their advantage in image encryption.