In order to promote the development of distributed energy supply technology combined with compressed air energy storage and small gas turbine, this paper proposed a distributed CCHP system coupling compressed air energy storage, established a model through GateCycle software and completed system analysis. The model consisted of a CCHP module with a centrifugal flow gas turbine as the core whose rated power supply is 2MW and a compressed air energy storage CCHP module including a centrifugal compressor, a gas tank and an inward flow radial turbine. The two modules were coupled by a counter-current heat exchanger. In the heat exchanger, high-temperature flue gas discharged from the gas turbine could heat the high-pressure air discharged from the gas storage tank to increase its power generation and to make the discharged air temperature suitable for cooling or heating. After the energy supply characteristics of the system were analyzed, the economic analysis was emphatically carried out through an example. The research showed that the steam generated by the waste heat boiler approximately increased like a line with the flue gas shunt ratio to the waste heat boiler. The air turbine corresponded to the only suitable intake gas flow when the flue gas shunt ratio to the heat exchanger changed. The corresponding discharge rate of gas storage tank decreased rapidly and the air turbine power generation increased rapidly with the flue gas shunt ratio to the heat exchanger changing from 0 to 0.4,however, the corresponding discharge rate of gas storage tank decreased slowly and the air turbine power generation increased slowly with the flue gas shunt ratio to the heat exchanger changing from 0.4 to 1. In practical application, energy-price ratio was the highest in winter and summer when the flue gas shunt ratio to the heat exchanger was 0.4, and increased with the increase of the flue gas shunt ratio to the heat exchanger in spring and autumn. Compared to separate energy supply mode, coupled energy supply mode could save cost 20.86% of the cost in winter typical day, 28.70% in summer typical day and 12.32% in spring and autumn typical day. Therefore, compared to separate energy supply mode, coupled energy supply mode could save cost in every season.