A refrigeration cycle device includes a compressor, an air-refrigerant heat exchanger that exchanges heat between air and refrigerant, an expansion valve decompressing the refrigerant, a heat medium-refrigerant heat exchanger that exchanges heat between a heat medium and the refrigerant, a cold-heat utilization device that utilizes cold heat of the heat medium, and a hot-heat utilization device that utilizes hot heat of the heat medium. A refrigerant flow switching valve is provided to switch between a heat-medium cooling mode of cooling the heat medium in the heat medium-refrigerant heat exchanger, and a heat-medium heating mode of heating the heat medium in the heat medium-refrigerant heat exchanger. In addition, a heat medium flow switching device is provided such that, in the heat-medium cooling mode, the heat medium circulates between the heat medium-refrigerant heat exchanger and the cold-heat utilization device, and that in the heat-medium heating mode, the heat medium circulates between the heat medium-refrigerant heat exchanger and the hot-heat utilization device.