The generating function of cubic Hodge integrals satisfying the local Calabi–Yau condition is conjectured to be a tau function of a new integrable system which can be regarded as a fractional generalization of the Volterra lattice hierarchy, so we name it the fractional Volterra hierarchy. In this paper, we give the definition of this integrable hierarchy in terms of Lax pair and Hamiltonian formalisms, construct its tau functions, and present its multi-soliton solutions.