A non-homostasis two heat source composite heat exchanger was designed; it integrated by the finned heat exchanger and the double pipe heat exchanger. The synchronized composite heat exchange that a substance can heat exchange with gas and liquid heat source at the same time can be done by the composite heat exchanger. In this paper, the composite heat exchanger described in detail, and the heating working condition performance of the composite heat-source air-conditioning application system with the composite heat exchanger tested. The results proved that compared the composite heat pump with the composite heat exchanger with the ordinary air-source heat pump, the average heating capacity increased more than 30%, and the average heating efficiency increased more than 50%.