Abstract: In order to solve the problem of waste heat from the exhaust of the advanced adiabatic compressed air energy storage final stage expander and improve the efficiency of the system,a compressed air energy storage system coupled with a heat pump was proposed. A 120 MW advanced adiabatic compressed air energy storage project was selected as the research object, and a simulation was conducted by using THERMOFLEX software, so as to carry out the energy analysis and exergy analysis of the new coupling system. Subsequently, the influence of environmental temperature and initial temperature of thermal oil on the performance of the coupling system was studied. Results show that the heat pump system can fully utilize the exhaust heat from the final stage expander of the compressed air energy storage system, while providing hot water for heat users. Compared with the original compressed air energy storage system, the energy efficiency of the coupling system is increased by 3.75 percentage points, and the exergetic efficiency is increased by 2.38 percentage points. The components with significant exergy destruction are in No.1 and No.2 oil-gas heat exchangers. Low ambient temperature and low initial temperature of thermal oil are beneficial to improving the energy storage performance of the system.