Power generation cycle using ammonia-water mixture as working fluid has attracted much attention because of its ability to efficiently convert low-temperature heat source into useful work. If an ammonia-water power cycle is combined with a power cycle using liquefied natural gas (LNG), the conversion efficiency could be further improved owing to the cold energy of LNG at $-162^{circ}C$. In this work parametric study is carried out on the thermodynamic performance of a power cycle consisted of an ammonia-water Rankine cycle as an upper cycle and a LNG cycle as a bottom cycle. As a driving energy the combined cycle utilizes a low-temperature heat source in the form of sensible heat. The effects on the system performance of the system parameters such as ammonia concentration ($x_b$), turbine 1 inlet pressure ($P_{H_1}$) and temperature ($T_{H_1}$), and condenser outlet temperature ($T_{L_1}$) are extensively investigated. Calculation results show that thermal efficiency increases with the increase of $P_{H_1}$, $T_{H_1}$ and the decrease of $T_{L_1}$, while its dependence on $x_b$ has a downward convex shape. The changes of net work generation with respect to $P_{H_1}$, $T_{H_1}$, $T_{L_1}$, and $x_b$ are roughly linear.