The invention discloses a thermal barrier coating system, which comprises a base body, a bonding layer and a multilayer ceramic coating, wherein the multilayer ceramic coating is formed on the bonding layer and comprises a reinforcing layer, a transition layer and a toughness enhancing thermal insulation layer which are sequentially formed on the bonding layer, and vertical cracks are arranged on the toughness enhancing thermal insulation layer. In the thermal barrier coating system, the ceramic coating is provided with the toughness enhancing thermal insulation layer with the sufficient vertical cracks, the ceramic coating has the characteristic of high stress toughness through the existence of the vertical cracks, the thermal mismatch relieving capability of the ceramic layer is enhanced, and the thermal stress in the ceramic layer is reduced, so the characteristics of efficient thermal barrier and long service life are obtained. The reinforcing layer is prepared near an interface easy to generate unsticking, the oxygen atom diffusion resistance can be enhanced, in addition, the layer separation invalidation position is transferred from the interface to a position inside the ceramic layer far away from a thermal growth oxide layer (TGO), simultaneously, the transition layer is formed between the toughness enhancing thermal insulation layer and the reinforcing layer, the thermal mismatch stress can be effectively reduced, and the thermal barrier coating system has the characteristic that the service life is long.