Under investigation is an integrable generalization of the Fokas–Lenells equation, which can be derived from the negative power flow of a 2 × 2 matrix spectral problem with three potentials. Based on the gauge transformation of the matrix spectral problem, one kind of Darboux transformation with multi-parameters for the three-component coupled Fokas–Lenells system is constructed. As a reduction, the N-fold Darboux transformation for the generalized Fokas–Lenells equation is obtained, from which the N-soliton solution in a compact Vandermonde-like determinant form are given. Particularly, the explicit one- and two-soliton solutions are presented and their dynamical behaviors are shown graphically.