We present a scheme to generate a squeezed atom laser via stimulated Raman transition of the atoms in Bose–Einstein condensate (BEC) interacting with two light beams, including a weaker squeezed coherent probe light and a stronger classical pump light. The results show that the quantum fluctuation of this atom laser can be periodically squeezed. The squeezing depth of such atom laser is determined by the initial squeezing factor of the probe light, and the squeezing period of that is related to the mean number of atoms in the trap, the strength of interaction ...