The invention discloses a component controllable two-stage condensation Rankine cycle power generation system utilizing LNG cold energy, and belongs to the field of liquefied natural gas cold energy power generation. The system comprises a first sea water pump, a second sea water pump, a first working medium pump, a second working medium pump, a mixer, a working medium evaporator, a membrane separation device, a first expansion machine, a second expansion machine, an LNG pump, a first-stage condenser, a second-stage condenser and a reheater. According to the system, step-by-step utilization ofthe LNG cold energy is realized; and the proportion of mixed working mediums in the two condensers can be regulated and controlled by the additionally arranged membrane separation device, the temperature matching degree in the heat exchange process can be further improved, the irreversible loss in the LNG cold energy recovery process can be reduced, the power generation efficiency is improved, meanwhile, the flexible applicability of the system under different working conditions is also improved, and therefore, the system can be widely applied to the field of LNG cold energy power generation.