Observations of the Sun suggest that solar activities systematically create north–south hemispheric asymmetries. For instance, the hemisphere in which sunspot activity is more active tends to switch after the early half of each solar cycle. Svalgaard & Kamide recently pointed out that the time gaps of polar field reversal between the northern and southern hemispheres are simply consequences of the asymmetry of sunspot activity. However, the mechanism underlying the asymmetric feature in solar cycle activity is not yet well understood. In this paper, in order to explain the cause of the asymmetry from the theoretical point of view, we investigate the relationship between the dipole- and quadrupole-type components of the magnetic field in the solar cycle using the mean-field theory based on the flux transport dynamo model. As a result, we found that there are two different attractors of the solar cycle, in which either the north or the south polar field is first reversed, and that the flux transport dynamo model explains well the phase-asymmetry of sunspot activity and the polar field reversal without any ad hoc source of asymmetry.