To use LNG cold energy in cold storage system effectively, a new cold storage system using LNG cold energy was designed from the perspective of cascade utilization of LNG cold energy, which achieved cascade utilization of LNG cold energy in the LNG exchanger and the cold storage terminal. In addition, the thermodynamics and economy performance of the system were simulated and analyzed by HYSYS, respectively. Results indicated that COP of the cold storage system was 1.82 and the exergy efficiency was 80.2%. Besides, the exergy loss of LNG exchanger was the largest, which constituted 79.8% of the total exergy loss in the system, and it decreased with the LNG inlet temperature rising. Moreover, as the LNG inlet temperature and gasification pressure increased, both COP and exergy efficiency of the cold storage system rose. The system had good economic benefits, with the payback period of 4.77 years. It was quite obvious that LNG cold energy was a new cold energy source for cold storage system and adding cold-storage equipment and pressure pump in LNG inlet terminal could improve COP and exergy efficiency.