The invention relates to a heat exchange and heat storage device suitable for biogas power generation high-temperature exhaust air. The device comprises a heat exchange tank, a water storage part arranged in the heat exchange tank, and a heat source conveying part and a heat storage part arranged in the water storage part in a sleeved mode; the heat source conveying part comprises a heat source discharge pipe arranged on the axial center line of the heat exchange tank, and a heat source layer arranged out of the heat source discharge pipe; the heat source layer is provided with an input pipe;the heat source discharge pipe and the heat source layer communicate by a first channel; the water storage part comprises a spiral pipe coiled out of the heat source discharge pipe, and a water storage layer; the water storage layer and the spiral pipe communicate through a second channel; the spiral pipe is provided with a drainage pipe; the water storage layer is provided with a water inlet pipe; the heat storage part comprises a heat storage layer annularly arranged out of the spiral pipe; and the heat storage layer is filled with a heat storage medium. The device can realize multistage heat exchange of the heat exchange device, and can reasonably control the smoke temperature to prevent the device corrosion caused by quicker reduction of the smoke temperature.