The aim of this paper is to investigate the dynamical behavior of a two-species predator-prey model with Holling type IV functional response and nonlinear predator harvesting. The positivity and boundedness of the solutions of the model have been established. The considered system contains three kinds of equilibrium points. Those are the trivial equilibrium point, axial equilibrium point and the interior equilibrium points. The trivial equilibrium point is always saddle and stability of the axial equilibrium point depends on critical value of the conversion efficiency. The interior equilibrium point changes its stability through various parametric conditions. The considered system experiences different types of bifurcations such as Saddle-node bifurcation, Hopf bifurcation, Transcritical bifurcation and Bogdanov-Taken bifurcation. It is clear from the numerical analysis that the predator harvesting rate and the conversion efficiency play an important role in stability of the system. © 2020 World Scientific Publishing Company.