An air-conditioning and hot water supplying composite system includes a heat source unit and a heat source-side heat exchanger, an indoor heat source unit, a hot water supply unit connected to the heat source unit and including a hot water supply-side heat exchanger and a hot water supply-side expansion device, and a controller that controls the heat source unit. The controller includes a mode switching unit that switches a control mode of the air-conditioning and hot water supplying composite system between a hot water supply control mode, a hot water supply preheating mode, and a condensing temperature control unit. The condensing temperature control unit determines the target condensing temperature according to a temperature of a heat medium subjected to heat exchange by the hot water supply unit, in the hot water supply control mode.