A multi-connected heat recovery air conditioning system and a control method thereof. The multi-connected heat recovery air conditioning system includes an indoor unit, an outdoor unit and a hydraulic module, wherein the outdoor unit comprises a compressor, an outdoor heat exchanger, a first four-way valve and a second four-way valve. The multi-connected heat recovery air conditioning system further comprises an indoor unit temperature unit, a water temperature unit, a high-pressure sensor and a low-pressure sensor. The indoor unit temperature unit is arranged in the indoor unit for detecting and obtaining the outlet temperature value of the indoor unit, the water temperature unit is arranged at a heat exchange water tank for detecting and obtaining water temperature, and the high-pressure sensor and the low-pressure sensor are arranged at the output end and the air return end of the compressor respectively.