The invention provides a heat pipe heat storage heat exchanger with the heat storage capacity being changeable. The heat pipe heat storage heat exchanger comprises a gravity assisted heat pipe, and the heat pipe comprises an evaporating end and a condensation end. The heat pipe heat storage heat exchanger is characterized in that the evaporating end is arranged in a heat accumulator, the heat accumulator is arranged in a heat source, the condensation end is arranged in a container of a cold source, and the heat storage capacity of a heat storage material in the heat accumulator is gradually weakened in the direction from the center of the heat accumulator to the outer wall of the heat accumulator. According to the heat pipe heat storage heat exchanger, the heat storage capacity can be further improved through the gradual change of the heat storage capacity of the heat storage material, and uniform heating of a vertical pipe can be realized.