This paper present the performance characteristics of R404A two-stage compression refrigeration system. The operating parameters considered in this study include evaporating and condensing temperature, subcooling and superheating degree, compressor efficiency. The main results were summarized as follows: The COP of two-stage compression refrigeration system using R404A has an effect on the variation of evaporation temperature, condensation temperature, subcooling degree and compressor efficiency, but not an effect on the superheating degree. R404A two-stage compression refrigeration system is unstable because COP of this system is significantly changed when evaporating temperature and compressor efficiency decreased. In particular, when compressor efficiency decreased, COP is significantly decreased. This is inefficient for long-term use.