The invention provides an air conditioning system capable of switching between refrigeration and heating. The air conditioning system comprises a reversing valve, a compressor, a first indoor unit, a second indoor unit and an outdoor unit. The reversing valve in the air conditioning system can conveniently enable six connecting pipes to switch between a 2-2-2 communicating mode and a 3-3 communicating mode; compared with a technical scheme of synchronously using two four-way valves in the prior art, the same effect can be achieved; but for the air conditioning system, after one reversing valve is used for replacing the two four-way valves, pipelines are simplified, the pipeline design is convenient, the space is released, the installation of the compressor can be guaranteed, the further design optimization is convenient, and the valve and pipeline costs are reduced; and in particular, the invention is suitable for an air conditioning system containing double air sucking compressors.