The invention relates to the technical field of heat exchange, and particularly discloses a cooling system. The system comprises a heat absorption device which is provided with a first pipe connectedwith a heat dissipation device; a cooling medium which is phase-change fluid comprising a phase-change material; the heat dissipation device for dissipating the heat of the cooling medium and circulating the cooling medium into the heat absorption device through a second pipe after heat dissipation; and a phase-change material regeneration device which is arranged on the first pipe or the second pipe. During a conventional heat load, the phase-change material in the phase-change fluid does not perform phase change, and the heat generated by a to-be-cooled device is dissipated through sensibleheat; during a peak heat load, the heat released by the to-be-cooled device is stored in a sensible heat and latent heat manner, so that local overheating can be effectively prevented. Meanwhile, withthe increase of the use time, the phase-change material particles forming the phase-change fluid may be agglomerated, and the phase-change material regeneration device is adopted to perform online dispersion of the phase-change fluid, so that the dispersion of the phase-change material particles is more uniform, and a better cooling effect is realized.