The invention provides an antenna system, which comprises a metal back shell, a system ground unit, an upper antenna module and a lower antenna module, wherein the upper antenna module comprises a main low-frequency antenna, a three-in-one small antenna, a dynamic adjustable switch and a first ground point; each of the main low-frequency antenna and the three-in-one small antenna comprises a low-frequency feed point and a three-in-one small antenna feed point; the lower antenna module comprises a first medium-high frequency antenna, a second medium-high frequency antenna and a second ground point; and each of the first medium-high frequency antenna and the second medium-high frequency antenna comprises a first medium-high frequency feed point and a second medium-high frequency feed point. The invention further provides electronic equipment. The electronic equipment comprises the antenna system. Compared with a related technology, the antenna system provided by the invention has the advantage that the technical problem that the antenna performance is affected by holding in a hand is solved.