Deep mining represents the future direction of mining technology, with heat hazards in mines being a major factor restricting safe production in deep mines. Conventional cooling technology is difficult to meet the demand for large enthalpy difference cooling in deep mines, and there is an urgent need to develop high-efficiency and low-carbon large enthalpy difference refrigeration systems. This study proposes a mine cooling and heating combined heat pump system, using ethylene glycol solution as a low-temperature coolant to establish a synergistic system for mine airflow cooling and heat supply to surface buildings. By comparing the thermophysical properties, cycling performance and safety of potential refrigerants, this study found that R515B exhibits the best overall performance. This paper constructs a model of a mine cooling and heating combined heat pump system and verifies its reliability. Simulations indicate that for every 1 ℃ increase in the outlet temperature of the ethylene glycol solution, the cooling coefficient of performance improves by 3.8%, while for every 1 ℃ increase in the hot water supply temperature, the heating coefficient of performance decreases by 2.2%. The system significantly improves the underground humid and hot environment, reducing the supply air temperature to 11~16 ℃ in high-temperature, high-humidity mine environments of 28–38 °C and 80% relative humidity. Additionally, it can extract hot water at temperatures of 40~48 ℃.