Embodiments of the invention provide a compressed air energy storage power station capacity allocation method and device based on a double-layer game; the method comprises the following steps of constructing a first objective function by taking the maximum benefit of a compressed air energy storage power station as a first optimization target, and determining an operation constraint condition according to the physical characteristics of the compressed air energy storage power station; constructing a second objective function by taking the maximum power grid benefit considering the abandoned wind loss as a second optimization objective, and determining a power grid side constraint condition; based on the first objective function, the operation constraint condition, the second objective function and the power grid side constraint condition, taking the compressed air energy storage power station as a lower-layer main body, and taking the power grid as an upper-layer main body, constructing a double-layer game model of the capacity optimization configuration of the compressed air energy storage power station; and solving the double-layer game model to obtain the optimal capacity of thecompressed air energy storage power station. According to the embodiments of the invention, the economical efficiency of the power grid and the compressed air energy storage power station are considered, and the dynamic characteristics of the compressed air energy storage power station are also taken into consideration.