The invention relates to a refrigerating capacity regulating and controlling method for an ice-water system of a frequency conversion refrigeration air conditioner. The refrigerating capacity regulating and controlling method comprises the following steps of: reducing the refrigerating requirement of outburst or peak concentration by dispersing the refrigerating capacity of each requirement end so as to smoothen the frequency conversion load requirement; defining various operation programs respectively aiming at requirement ends with different refrigerating capacities to enable the operation programs to respectively have individually-defined corresponding high temperature-low temperature intervals; and redistributing the refrigerating capacity supplied by a frequency conversion ice-water host machine to the refrigerating capacity requirement end through temperature buffer zones in different operation programs to enable the frequency conversion ice-water host machine to operate a compressor in a smooth uniform mode and further achieve the effects of saving energy and electricity. In addition, the pipeline loss is considered and the refrigerating capacity error caused by damage or non-uniformity of the pipeline can be overcome by the refrigerating capacity regulating and controlling method.