Dynamics and digital circuit implementation of the fractional-order Lorenz system are investigated by employing Adomian decomposition method (ADM). Dynamics of the fractional-order Lorenz system with derivative order and parameter varying is analyzed by means of Lyapunov exponents (LEs), bifurcation diagram, chaos diagram and phase diagram. Results show that the fractional-order Lorenz system has rich dynamical behavior and it is a potential model for application. It is also found that the minimum order is affected by numerical algorithm and time step size. Finally, the fractional-order system is implemented on DSP digital circuit. Phase diagrams generated by the DSP are consistent with that generated by simulation.