Abstract: In order to solve the problem of large thermal energy loss in the conventional advanced adiabatic compressed air energy storage concentrating solar power（AA-CAES+CSP）system coupled with solar auxiliary heat,the energy release process of the system is modified. From the perspective of thermodynamics and economics,a comparatively analysis of the performances of conventional and modified system is conducted. The results show that the coefficient of performance of heating and cooling,annual profit margins of the modified system are significantly improved. Meanwhile,the parameter sensitivity analysis is carried out. The results indicate that,as the collector temperature rises. The coefficient of performance of cooling the improved system decreases,and other indexes of the two systems rise;the greater the pressure difference in the gas storage chamber,the higher annual profit margin of the system,and the lower other indexes. As the compression/expansion power increases,the annual profit margin decreases,while other indexes increase.Moreover,the cycle efficiency and annual profit margin are selected as the objective function,and the gray wolf algorithm is applied to implement the multi-objective optimization. It is easier to obtain the best system performance when higher heat collection temperature,compression/expansion power and lower gas storage pressure ratio are set.