The invention provides an ammonia-water mixed working medium thermodynamic cycle system for low-grade thermal power generation. The system comprises an absorption condenser, an ammonia-rich solution pipeline, a solution pump, a heat regenerator, a heat source fluid runner, an evaporator, a gas-liquid separator, a superheater, an ammonia-water mixed steam pipeline, a steam turbine, a main power generator, a cooling water heat exchanger, an absorption liquid pipeline, a water turbine, an auxiliary power generator, a back pressure adjusting valve and an absorption liquid sprayer. According to thesystem, the chemical absorption mode is adopted to promote condensation of ammonia-water mixed steam, partial ammonia gas is enabled to react with an absorbent to stably exist in the liquid phase inthe form of ammonia ions or complex ammonia, the concentration of the ammonia in a solution can be remarkably improved under the condition that partial pressure of the ammonia gas in the gas phase isnot increased, so that condensation of the ammonia-water mixed steam can be realized under the low backpressure. The solution is heated in the evaporator, along with continuous increasing of the temperature, the hydrated ammonia, the ammonia ions and the complexing ammonia are resolved to release the ammonia gas, and the absorbent is regenerated while only the ammonia and water in volatile components are evaporated in a temperature-changing mode.