The present invention provides a heat pump system which comprises a compressor (110), a mode switch valve assembly (120), a mode switch flow path, and a first heat exchanger, a second heat exchanger and a heat recovery heat exchanger respectively connected between the mode switch valve assembly and the mode switch flow path, wherein the mode switch flow path is provided with a first flow path (160), a second flow path (170) and a third flow path (180) which converge at an intersection point, and at least the first flow path and the second flow path are respectively provided with a throttling section (161,171), and the first flow path, the second flow path and the third flow path are controllably switched on/off to realize different function modes. Therefore, a heat pump unit having a heat recovery function is provided, which has advantages of simple structure and high operational reliability, etc.