In this paper, the cycle characteristics of R404A / R508B cascade refrigeration system are studied in combination with thermodynamics theory. Condensation temperature, evaporation temperature, condensation evaporator heat transfer temperature difference, high and low temperature condensation supercooling system and R408B low temperature condensation temperature parameters are concerned about the impact of the COP value of the R404A / R508B cascade system. The results show that the evaporation temperature and low temperature subcooling are the most important factors affecting the performance of the system. System COP increased by 1.4% and 1.2%, respectively, when evaporation temperature and undercooling increase by 1 °C.