In this paper, we investigate a four-component Toda lattice (TL), which may be used to model the wave propagation in lattices just like the famous TL. By means of the Lax pair and gauge transformation, we construct the [Formula: see text]-fold Darboux transformation (DT), which enables us to obtain multi-soliton or multi-solitary wave solution without complex iterative process. Through the obtained DT, [Formula: see text]-fold explicit exact solutions of the system and their figures with proper parameters are presented from which we find the [Formula: see text]-fold solution shows two-solitary wave structure, the amplitude and shape of the wave change with time. Finally, we derive an infinite number of conservation laws formulaically to illustrate the integrability of the system.