The application provides a compressed airenergy storagesystem and method, and relates to the technical field of energy storage.The compressed airenergy storagesystem comprises a compression device, a multistage gas storage device and a multistage expansion device.The multistage gas storage device comprises a main gas storage device and a plurality of sub gas storage devices.The gas inlet of the main gas storage device is communicated with the gas outlet of the compression device.The first gas outlet of the main gas storage device is respectively communicated with the gas inlets of the sub gas storage devices.The multistage expansion device comprises a plurality of sub expansion machines connected in series.The gas inlet of the multistage expansion device is communicated with the second gas outlet of the main gas storage device.The gas inlet of each sub expansion machine is communicated with the gas outlet of the corresponding sub gas storage device.The compressed air energy storage system has a wide adjustable operation range when releasing energy, and the operation boundary of the system is expanded.