The invention discloses a refrigerant suitable for an air source heat pump water heater, including refrigerant R134a, R417a and R407, which has passed the national environmental protection product quality supervision and inspection, and has an ozone depletion potential value ODP (<0.11, international standard ODP≤0.11) , purity 99.99%, moisture 0.001%, evaporation residue 0.0012%, acidity: not detected, appearance, colorless and transparent, no peculiar smell, low system pressure when the machine is running, low operating power consumption, high heating capacity, reaching above COP5.1 Energy efficiency: It is a high-temperature and low-pressure environmentally friendly refrigerant, especially adding cesium oxide as a catalyst, which can significantly improve the heating energy efficiency ratio of the refrigerant.