The invention discloses a cold water and heat pump unit, which comprises a compressor, a condenser, throttling devices, an evaporator and a control device. The cold water and heat pump unit is characterized in that an exhaust end of the compressor is connected with the condenser, an outlet of the condenser is connected with an inlet of the first throttling device, an outlet of the first throttling device is connected with an inlet of the evaporator, an outlet of the evaporator is connected with an air inlet of the compressor, an inlet of the second throttling device is connected with the outlet of the condenser while an outlet of the second throttling device is connected with the outlet of the evaporator, a signal acquisition point of the first throttling device is located at the outlet of the evaporator, and a signal acquisition point of the second throttling device is located at the inlet of the compressor. The cold water and heat pump unit controls the temperature of return air according to needs, guarantees that the temperature of the return air is not too high, and also guarantees that the return air does not contain liquid. Accordingly, the unit with high heat source temperature can be high-efficiently and reliably operated under various working conditions.