A bis-chalcone derivative, p-( N, N-dimethylamino) dibenzylideneacetone was synthesized. Its third-order nonlinear susceptibility was determined to be as high as 10 −12 esu by employing single beam Z-scan and degenerate four wave mixing techniques using Nd:YAG 7 ns laser pulses at 532 nm. The compound was doped in to poly(methylmethacrylate) matrix and the third-order nonlinearity was investigated by using Z-scan technique. The nonlinear refractive index of the doped polymer is found to be negative, and its magnitude is of the order of 10 −10 esu. The results show that the compound exhibits strong reverse saturable absorption and a good optical limiting property and hence may be used as a promising dopant material. The study on concentration dependence of nonlinear optical parameters has been presented.