In this study, a new 4D hyperchaotic system is developed from the 3D Lü chaotic system. The dynamic characteristics of the proposed hyperchaotic system are analyzed using chaotic attractors, equilibrium point stability, Lyapunov exponents’ spectrum, and bifurcation diagrams. Additionally, a linear feedback control method is employed to design the feedback control of the hyperchaotic system. Then, the new hyperchaotic system is implemented using electronic workbench multisim and embedded hardware STM32, and the experimental results are compared with the numerical simulations, showing consistency between them. Finally, using the principle of cross-XOR operation, the audio encryption of hyperchaotic sequence was implemented on the embedded hardware STM32. The results show that the audio encryption scheme based on the hyperchaotic system is feasible, and the method is simple to implement, has nonlinear characteristics and certain algorithm complexity, which can be applied to audio encryption, image encryption, video encryption, and more.