The invention discloses a
heat pump system, a control method of the
heat pump system, an air conditioner and a storage medium, and relates to the technical field of heat pumps, the
heat pump system comprises a phase separator, a
liquid storage device, a
refrigerant adjusting
assembly and a
refrigerant circulation loop, the
refrigerant circulation loop comprises a compressor, a first
heat exchanger, a throttling device and a second
heat exchanger, wherein the first
heat exchanger, the throttling device and the second heat exchanger are sequentially connected. The first heat exchanger and the second heat exchanger communicate with an air return opening of the compressor and an exhaust opening of the compressor correspondingly. The phase separator is provided with a refrigerant inlet and a
liquid phase outlet, the second heat exchanger communicates with the refrigerant inlet, and the second heat exchanger, the
liquid phase outlet and the
liquid storage device are all connected with a refrigerant adjusting
assembly. The refrigerant adjusting
assembly is arranged to adjust the flowing state of refrigerants between the
liquid storage device and the second heat exchanger and between the phase separator and the second heat exchanger. The output capacity and energy efficiency of the heat pump system are improved.