In this paper, we study the quantum properties of the three-mode squeezed operator. This operator is constructed from the optical parametric oscillator based on the three concurrent χ (2) nonlinearities. We give a complete treatment for this operator including the symmetric and asymmetric nonlinearities cases. The action of the operator on the number and coherent states are studied in the framework of squeezing, second-order correlation function, CauchySchwartz inequality and single-mode quasiprobability function. The nonclassical effects are remarkable in all these quantities. We show that the nonclassical effects generated by the asymmetric case-for certain values of the system parameters-are greater than those of the symmetric one. This reflects the important role for the asymmetry in the system. Moreover, the system can generate different types of the Schrödinger-cat states.