The squeezing properties of twomode atom laser coupled output from the system of Ξtype threelevel atomic BoseEinstein condensate (BEC) interacting with single-mode squeezed coherent light field are studied, and the influence of interaction among atoms in BoseEinstein condensate on the squeezing properties of atom laser is discussed emphatically. The relation between squeezing of atom laser and initial squeezing factor of light field is also considered. The results show that the atom appears periodically squeezing, and the squeezing properties of atom laser depend closely on both interaction among atoms in BEC and initial squeezing factor of light. The interaction among atoms affects the oscillation frequency of squeezing of atom laser but doesn't squeezing depth. The initial squeezing factor of light modulates the squeezing depth of atom laser, and the greater the initial squeezing factor, the shorter the squeezing time of atom laser is.