This paper presents performance of a novel ECCS (electricity-cooling cogeneration system) based on cascade utilization of the waste heat of marine engines. The cogeneration system consists of a steam Rankine cycle and an NH3-H2O absorption refrigeration cycle with an expander. The steam Rankine cycle recycles the energy of both jacket coolant and exhaust gas of engine, while the absorption refrigeration cycle is employed to recover energy of the expanded steam at the turbine outlet in Rankine cycle. The performance of the waste heat recovery system is evaluated in terms of electricity, cooling capacity, equivalent electricity and exergy efficiency. The simulation results show that the novel ECCS exhibited a maximum net electricity output of 4561 kW, a maximum cooling capacity of 3197 kW, and a maximum equivalent electricity of 5233 kW. In this case, the equivalent BSFC (brake specific fuel consumption) can be reduced to 159.48 g/kWh, comparing with the original 172.3 g/kWh without ECCS. The thermal efficiency of the engine increases from 48.92% to 52.81%.