The invention relates to the field of water heaters, in particular to a low-temperature heat-storage water heater and a heat storage control method and a water application control method thereof. A compressor, an evaporator and a condensation heat exchange pipe in a heat pump unit of the water heater are in serial connection into a refrigerant flow loop. A water tank is filled with a phase changematerial, a water supply pipe penetrates through the water tank, and the water supply pipe outside the water tank is provided with an electric heater. The condensation heat exchange pipe also penetrates through the water tank. A refrigerant in the condensation heat exchange pipe flows, and the phase change material is heated and turns into a liquid state from a solid state, so that heat storage isachieved. When the water needs to be heated, the phase change material releases heat and performs heat exchange with the water supply pipe. The phase change material can heat the water in real time,the size of the water heater is reduced, and the phase change material can store heat and save energy. When the water at the high temperature is used, a heat exchanger adopts electric heating, and through control of a heat pump system and an auxiliary electric heating structure, different water usage demands of users can be met. The electric heater is used for assisting in heating, the interior ofthe water heater is reasonably controlled, the water usage demand of the users is met, and the energy saving effect of the water heater with a heat pump is achieved to the greatest extent.