Abstract: When the air energy heat pump unit is in low ambient temperature, it will appear frosting, heat reduction and other problems. The waste heat air energy heat pump system uses 40℃ low-temperature waste heat as low-temperature heat source, which not only avoids frosting and heat reduction, but also recovers low-temperature waste heat resources. By building the mathematical model of air energy heat pump system, the influence of waste heat flow, temperature and cold water temperature on the system performance was revealed, and an experimental platform was built to verify the results of the mathematical model. Results show that when the temperature of hot air and air volume are 45℃ and 4 500 m³/h, respectively, the performance parameters of the system reach the best value; with the increase of cold water temperature, the change of coefficient of performance (COP) of the system is not obvious; when the temperature of cold water is 10℃, the maximum deviation of pressure ratio is 12.5%. The performance simulation results of air energy heat pump system provide a theoretical guidance for the recovery and utilization of low-temperature waste heat.