The invention discloses a thermal management system for a new energy vehicle power battery. The thermal management system comprises a refrigerant circulating loop and a cooling liquid circulating loop, wherein the refrigerant circulating loop comprises a compressor, a condenser, a throttle valve, an evaporator and a gas-liquid separator which are sequentially connected through a pipeline; the gas-liquid separator is connected back to the compressor; the cooling liquid circulating loop comprises a circulating pipe; the circulating pipe is sequentially connected with a water tank, a circulating pipe heat exchange part, a water pump, a water inlet/outlet and a heater; the circulating pipe heat exchange part is wound on the evaporator; the heater is connected back to the water tank; and the circulating pipe is provided with a first connecting pipe, a first three-way valve, a second connecting pipe and a second three-way valve. The thermal management system has the advantages of a good cooling effect and high heating efficiency on the new energy vehicle power battery; the new energy vehicle power battery can be cooled; and the new energy vehicle power battery can also be heated.