The invention discloses a water-cooled heat pipe-type machine room air-conditioning system. The system comprises a compressor, a water-cooled condenser, a throttling device, an evaporative cooling condenser, a liquid storage pot, a flow equilibrium valve, a terminal heat exchanger, an air bubble pump, a cooling tower, a cooling water pump, a first water outlet valve, a first water inlet valve, a first drain valve, a second water inlet valve, a second water outlet valve and a second drain valve, wherein the high-pressure exhaust port of the compressor is connected with the refrigerant side of the water-cooled condenser, the throttling device, the evaporation side of the evaporative cooling condenser, and the low-pressure air suction port of the compressor in turn, so as to form a compressing refrigeration circulation loop with a cooling water circulation loop together; and the outlet on the condensing side of the evaporative cooling condenser is connected with the liquid storage pot, the flow equilibrium valve, the terminal heat exchanger, the air bubble pump and the inlet on the condensing side of the evaporative cooling condenser in turn, so as to form a heat pipe refrigeration circulation loop with the cooling water circulation loop together. The system has a smaller temperature difference and a high energy efficiency ratio when performs heat exchange.