Abstract: Disclosed is an energy storage and steam generation system, including an electrode steam boiler. One side of the electrode steam boiler is connected with a boiler deaerator through a pipeline. A pipeline A is arranged at the top of the electrode steam boiler. The pipeline A is connected with a steam superheater, and an outlet of the steam superheater is provided with an external steam supply outlet pipeline. A molten salt steam generation bypass pipeline and a pipeline B are arranged on the steam superheater. One end of the molten salt steam generation bypass pipeline is connected to the steam superheater. A low-temperature molten salt storage tank is connected to the pipeline B, and a high-temperature molten salt storage tank is connected to the low-temperature molten salt storage tank through a pipeline. The other end of the molten salt steam generation bypass pipeline is connected to the high-temperature molten salt storage tank. Meanwhile, a generation method is further disclosed.