The invention discloses a solar moist air circulating electricity-water cogeneration system which comprises an immersion bubbling distiller, a fed seawater pipeline, a condenser, a low-pressure compressor, an intercooler, a high-pressure compressor, a heat regenerator, a tower type solar superheater, a high-pressure moist air turbine, a tower type solar reheater, a low-pressure moist air turbine and an electric generator. Original seawater is subjected to two-level preheating through the intercooler and the condenser and then is conveyed into the immersion bubbling distiller; external air is subjected to two-level compressor and then enters the heat regenerator to be warmed, and then the external air is sprayed into the seawater to be heated and mixed; formed moist and hot air is heated by the tower type solar superheater and then sent to the moist air turbine for acting and power generation; waste heat of exhausted steam is discharged through the heat regenerator and the condenser, and water steam in moist air is condensed into fresh water which is then output. The Brayton cycle and the immersion bubbling distilling technology are coupled, and the solar moist air circulating electricity-water cogeneration system has the characteristics of being good in distilling performance, high in overall power generating efficiency, high in circulating heat efficiency and wide in application range, and can be widely applied to the field of solar electricity-water cogeneration.