The invention discloses a method and equipment for generating electricity and preparing fresh water by use of a low-temperature heat source. The equipment consists of a seawater pump, a heater, a flash evaporator, a superheater, a mixing chamber, an ascending pipe, a chimney, an air condenser, a water tank, a vacuum pump, a descending pipe, a water turbine generator set, a fresh water pool, a hydraulic ram and an atomization nozzle. In the invention, the seawater is subjected to the steps of heating, flash evaporation, superheating and the like to form low-pressure superheated steam; the superheated steam contacts in the mixing chamber, carries fogdrop, enters the ascending pipe and flows into the air condenser at the top of the chimney to be cooled into condensed water; the condensed water enters the water tank and flows downward through the descending pipe to flush the water turbine generator set to do work and generate electricity and then is stored in the fresh water pool; part of the fresh water is conveyed to the atomization nozzle by the hydraulic ram to be sprayed into the mixing chamber. The equipment disclosed by the invention can make full use of the low-temperature heat source to generate electricity, has the characteristics of high conversion efficiency, high net output power, low generating cost, abundant production of byproduct freshwater and the like, and can be widely applied to the technical field of low-temperature heat source utilization.