The invention relates to the field of
heat pump systems, in particular to a
heat pump system, and aims to solve the problem that an existing
heat pump system is low in heat exchange efficiency. In order to achieve the purpose, the heat pump
system comprises a first
refrigerant loop, a second
refrigerant loop, a heat source passage structure, a first passage structure, a second passage structure and a third passage structure, the first passage structure, the second passage structure and the third passage structure are connected in series, and a first compressor, an
intermediate heat exchanger, a first throttling device and an
evaporator are sequentially arranged on the first
refrigerant loop; a second compressor, a condenser, a second throttling device and an
intermediate heat exchanger are sequentially arranged on the second refrigerant loop; the heat pump system is arranged to be of a first channel structure, heat exchange can be conducted between the heat source channel structure and the
evaporator, heat exchange can be conducted between the second channel structure and the
intermediate heat exchanger, and heat exchange can be conducted between the third channel structure and the condenser. According to the arrangement, the heat exchange
temperature difference between a refrigerant and water is greatly reduced, the heat exchange efficiency is optimized, the
energy loss is reduced, and therefore the energy efficiency ratio of the whole heat pump system is greatly increased.