The invention discloses a liquid air refrigeration power generation device for a data center, and a working method. The liquid air working medium refrigeration power generation device for the data center comprises an ultralow-temperature liquid storage tank, a high-pressure and ultralow-temperature liquid pump, a high-pressure and ultralow-temperature pipeline, a jet flow drainage apparatus, a low-temperature heat exchanger, a low-temperature and high-pressure gas pipeline, a gas mixing drainage apparatus, a temperature-rising, pressure-increasing and entropy-compensating heat exchanger consisting of a gas expansion section, a medium-temperature heat exchanger and a gas contraction section, a normal-temperature working gas pipeline, a gas turbine input valve, a working gas path, a gas turbine, a generator, an exhaust gas path, a gas turbine output valve, a gas return pipeline, a refrigeration water return input pipeline, a low-and-medium-temperature heat exchanger connection pipeline, a refrigeration water return output pipeline, an after-gas discharging opening, a liquid gas injection opening, an overhaul short circuit pipeline, an overhaul short circuit gas valve and a drainage gas return pipeline. According to the liquid air refrigeration power generation device for the data center, the refrigeration unit purchase cost and the backup generator set purchase cost can be reduced; due to modes of reduction of the power consumption of a refrigeration unit in the data center, auto-using power generated by the low-temperature generator set and the like, the power consumption of the data center is greatly reduced.