The invention discloses a heat and power synergistic system and method based on reheating and heat accumulation adjustment. The system comprises a high-pressure turbine, a medium-low-pressure steam turbine, a power generator, a boiler, a hot water tank, a heat accumulation steam make-up pump, a reheating and heat accumulation bypass, a heat accumulator, a heating station, a steam extraction and heat supply branch, a heat accumulation and steam supply branch, a heat accumulation and steam supply control valve, a reheating and heat accumulation bypass valve, a reheater, a reheating branch, a hotwater heat pump, a hot water heat supply branch and a hot water user. The problem that consideration to both heat and power cannot be achieved in the peak shaving process since a traditional heat andpower unit sets power according to heat or set the heat according to the power is solved to a certain extent, the effect of excess power generation on the premise of meeting the heat supply requirement is achieved, the problem that the heat requirement is not sufficient on the condition of meeting the power generation requirement, particularly the problem that the heat requirement is not sufficient is solved, and the thermoelectric power system effect of the unit is improved and the system and the method have very good application prospects.