A new three dimensional discrete Lorenz like system is proposed by using forward Euler scheme. The dynamics of this three dimensional discrete Lorenz like system is considered, and the existence and stability of equilibrium are also discussed. Based on explicit Neimark Sacker bifurcation criterion, center manifold theory and normal form method, the system’s existence, stability and direction of Neimark Sacker bifurcation are studied. Finally, a numerical example is provided for justifying the validity of the theoretical analysis.