The invention discloses a multifunctional cold and heat combined supply heat pump system which comprises a draught fan, a water distributing device, a material filling area, a shutter, a strut, a water heating tank, a heat-end heat exchanger, a check valve, a first condenser, a first compressor, a first evaporator, a second condenser, a second compressor, a second evaporator, a cold-end heat exchanger, a cold supply area, a heat exchange tower, a tap water storing tank, a three-way valve, a concentrated salt water storing tank, a first expanding valve, a second expanding valve, a valve, a water pump and a pipeline connecting system. Two heat pumps adopt a serial and parallel connection adjustable pipeline system and a circulation working medium adjustable heat exchange tower system, thereby solving the problem of frosting of the evaporators in winter and the problem of great reduction of the running efficiency of the heat pumps in extreme climate and leading a cold and heat combined supply heat pump to efficiently run in various climates; and the system can be used for large public systems, such as hotels, factories, stores, and the like and greatly widens the application range of the heat pump system.