Abstract
A new matrix spectral problem associated with s1(2, R), which generalizes the Wadati-Konno-Ichikawa spectral problem, is introduced, and the corresponding hierarchy of soliton equations is generated from the associated zero curvature equations. A bi-Hamiltonian structure of the resulting generalized soliton hierarchy is furnished by using the trace identity, and thus, every system in the generalized hierarchy is Liouville integrable.