The invention discloses a device for combining power cycle with compression type refrigerating cycle, which can be used for simultaneously completing power cycle and compression type refrigerating cycle. The device comprises a compressor, a heat regenerator, a condenser, a reservoir, a throttle valve, an evaporator I, a working medium pump, an evaporator II, an expander and a transmission device, which are connected according to a rule. According to the device disclosed by the invention, medium-low-grade energy sources such as solar energy, geothermal energy and industrial waste heat can be utilized for driving the expander to apply work, so that the compressor is driven by the output shaft work to operate for achieving the power cycle and the refrigerating cycle. Meanwhile, the device can also be used for generating power when the operation of a refrigerating working condition is not needed. The heat regenerator is additionally arranged in the device, so that the load of the heater is reduced while the load of the condenser is reduced. The reservoir is arranged, so that the two cycles are operated independently, thereby ensuring stable refrigerating to a user. The device disclosed by the invention has a good application prospect in underserved areas of power or small areas or cold supply, and is of significance to energy conservation and emission reduction.