We report on the synthesis and nonlinear optical characterization of a novel 2-amino-1,2,3-triazolquinone derivative, namely, 2-(yliminopropylphenyl-N,N'-dimethylamino)naphto-1,2,3-triazole-4,9-dione (ATZQ). The second-order nonlinear optical properties in solution were characterized using the hyper-Rayleigh scattering (HRS) technique, while the third-order nonlinearities of ATZQ-doped polymer films were measured through the use of the THG-Maker fringes technique. These experiments showed that this compound exhibits large second- and third-order nonlinear effects at the molecular level, with a first hyperpolarizability constant of 834x10-30esu at 1064nm and a second hyperpolarizability constant of 3.5x10-33esu at the telecommunication wavelength range of 1200-1700nm.