A new fractional-order Lorenz-like system with two stable node-foci has been thoroughly studied in this paper.Some sufficient conditions for the local stability of equilibria considering both commensurate and incommensurate cases are given. In addition, with the effective dimension less than three,the minimum effective dimension of the system is approximated as 2.8485 and is verified numerically. It should be affirmed that the linear differential equation in fractional-order Lorenzlike system appears to be less sensitive to the damping, represented by a fractional derivative, than the two other nonlinear equations. Furthermore, combination synchronization of this system is analyzed with the help of nonlinear feedback control method. Theoretical results are verified by performing numerical simulations.