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Multipartite quantum correlation plays a vital role in potential applications of quantum technologies. In this paper, using energy‐level cascaded four‐wave mixing (EC‐FWM) process, a scheme to produce quantum correlated three‐mode light beams within a single device of hot atomic medium of rubidium is proposed. Two‐ and three‐mode amplitude, phase quadrature squeezing and intensity difference squeezing using energy‐level simultaneous cascaded FWM (ESC‐FWM) method and energy‐level ordinal cascaded FWM (EOC‐FWM) method, respectively, is theoretically reported. Via investigating their covariance matrix properties, the comparison has been made between the two methods, which shows the ESC‐FWM method has a more stable mode structure than EOC‐FWM method. Moreover, versatile gain dependent squeezing via EC‐FWM is studied and analytical expressions are given. These results show a simplified and efficient experimental scheme producing multipartite quantum correlation among multiple spatially separated beams.

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