The quantum inverse scattering method is used for the study of a nonlinear N-wave resonance interaction system. The Yang-Baxter relations are solved to get various commutation relations for the scattering data operators. The energy spectrum of the quantum Hamiltonian for the model is determined and the existence of the quantum bound states is analyzed. In the classical limit, the corresponding r matrix is found, and the well-established correspondence between the classical solitons and the quantum bound states is examined. Finally, the integrability of the same model but with both fermion fields and boson fields is discussed.