The invention relates to a fuel-cell power generation system, and in particular relates to a high-power proton exchange membrane fuel-cell power generation system in an underwater isolated air environment. The fuel-cell power generation system comprises a proton exchange membrane fuel cell module, a hydrogen and oxygen storage device, a direct current (DC) / DC conversion unit, a monitoring unit, a heat exchanger, a water tank, a water pump, a valve and a circulating water pipe; a hot water circulating branch comprises a thermostatic hot water tank, a circulating hot water conveying water pump, a proton exchange membrane fuel cell module, a hydrogen storage device and a heat exchanger; a cold water circulating branch comprises a cold water tank, a circulating cold water conveying water pump, a DC / DC conversion unit and an oxygen storage device; a hot and cold water balancing branch comprises a thermostatic hot water tank, a hot water control valve, a balanced hot water conveying water pump, a cold water tank, a cold water control valve and a balanced cold water conveying water pump; one end of the monitoring unit is connected with the thermostatic hot water tank, and the other end of the monitoring unit is connected with the cold water tank. The fuel-cell power generation system has the advantages that the system does not depend on outside air, is safe and reliable, the heat exchange process inside the system is simple and direct, and the heat cycle efficiency is high.