The invention relates to a cold supply system. The cold supply system comprises a sharing runner, an auxiliary running branch and at least one main running branch connected with the auxiliary running branch in parallel, wherein the sharing runner comprises a compressor and a condenser connected with the compressor in series; the auxiliary running branch comprises a first electronic expansion valve, an auxiliary evaporator and a first electromagnetic valve which are sequentially connected in series, the first electronic expansion valve is communicated with the condenser, and the first electromagnetic valve is communicated with an air inlet of the compressor; and the main running branch comprises a second electromagnetic valve, a second electronic expansion valve, a main evaporation pipe, a low pressure sensor and a third electromagnetic valve which are sequentially connected in series, the second electromagnetic valve is communicated with a liquid outlet of the condenser, and the third electromagnetic valve is communicated with an air inlet of the compressor. By means of the cold supply system, effective cooling of a heating device can be achieved, the pipe pressure on the low pressure side of the main running branch is effectively reduced, and the cold supply system is protected against damage. The invention further discloses a control method of the above cold supply system.