Quantum criticality near a tricritical point (TCP) is studied in the two-component Bose-Hubbard model on square lattices. The existence of quantum TCP on a boundary of superfluid-insulator transition is confirmed by quantum Monte Carlo simulations. Moreover, we analytically derive the quantum tricritical behaviors on the basis of an effective field theory. We find two significant features of the quantum tricriticality, that are its characteristic chemical potential dependence of the superfluid transition temperature and a strong density fluctuation. We suggest that these features are directly observable in existing experimental setups of Bose-Bose mixtures in optical lattices.PACS numbers: 03.75. Mn,64.60.Kw,03.75.Hh Rapid development in experiments with ultracold gases confined in optical lattices has advanced the studies of quantum phase transitions (QPTs), thanks to their precise controllability of various parameters, such as external potentials, interparticle interactions, and lattice geometry, over a wide range. Several QPTs that are of close relevance to other condensed matter systems have been realized in experiments, such as superfluid (SF)-Mott insulator (MI) transitions in a variety of lattice geometry [1-4], SF-Bose glass transitions in a random [5, 6] or quasi-periodic [7, 8] potential, magnetic transitions in a tilted [9] or triangular [10, 11] optical lattice, and topological transitions in a double-well optical lattice [12]. Recent experiments have reported even the observation of quantum critical behaviors accompanying the secondorder QPT between vacuum and SF [13], thus providing new opportunities for studying quantum criticality in optical-lattice systems.Tricriticality, or more generally, multicriticality is a fundamental concept in the study of phase transitions [14]. A tricritical point (TCP) marks a point at which a second-order (continuous) phase transition changes to a first-order (discontinuous) phase transition on a single phase boundary in a two parameter phase diagram. Tricriticality has been discussed in the contexts of several condensed matter systems, e.g., FeCl 2 [15], 3 He-4 He mixture [16], and correlated electron matterials [17,18], as well as in quantum chromodynamics [19]. Due to its unique nature unconventional critical properties are expected to -and indeed found to -emerge in the vicinity of a TCP. As such, exploration of TCPs can be a useful strategy for finding novel universality classes of phase transitions. Despite such ubiquity and importance of TCP, understanding of quantum tricriticality remains limited to a phenomenological level because of lack of experiments with flexible controllability and exact numerical simulations on a microscopic model, in contrast to classical one.In this Letter, we use the unbiased numerical method of quantum Monte-Carlo (QMC) based on the Feynmann path integral [20] to show the existence of quantum TCPs in the ground state phase diagram of the two-component Bose-Hubbard model (BHM) on square lattices. This result suggests that qua...