The invention discloses an evaporation-condensation oilless cold-hot water unit and a control method thereof. The evaporation-condensation oilless cold-hot water unit comprises an oilless refrigeration system, a wind-side condensation radiating system, a water-side condensation cooling system, a cold-hot water heat exchange system and a control system, wherein the oilless refrigeration system comprises a magnetic levitation variable-frequency centrifugal compressor, a copper fin heat exchanger, a coiler heat exchanger, an electronic expansion valve and a shell-and-tube heat exchanger. The evaporation-condensation oilless cold-hot water unit disclosed by the invention is an integrated product, wherein efficient energy conservation and wide supply of cold-hot water can be realized, the floor area is greatly saved, the water consumption is reduced, the energy efficiency of the system is high, the equipment is simple, the mounting and using and the operation maintenance are convenient, and the evaporation-condensation oilless cold-hot water unit is particularly suitable for the underground spaces such as subway stations.