The paper aims to analyze the performance and identify suitable working fluids for a new heat recovery ejector heat pump (HREHP) system. This system introduces a flue gas waste exergy recover circuit combined with the traditional ejector heat pump. Considering the factors of performance, environmental impacts, flammability, and fluid type, four working fluids are selected (i.e., R245fa, R365mfc, RE245fa2, and R1233zd(E)). Comparative study initially conducted to demonstrate the advantages of the proposed heat recovery ejector heat pump facility. Subsequently, the effects of the operational parameters on the novel system performance are investigated to derive design and operation criteria through energy and exergy analysis. Finally, sensitive analysis of generation temperature (Tg), flue gas temperature (Tfg,out), and supply water temperature (Tw) on the proposed system is carried out. Compared with traditional air source heat pump, the application of the HREHP shows higher energy efficiency and lower operating costs at lower ambient temperatures. The results indicate that the primary energy efficiency of the proposed system is 27.0 % and 35.56 % higher than that of conventional ejector heat pump cycle and air source heat pump cycle, respectively, at an ambient temperature of −10 °C. Besides, Tg has a stronger effect on the entrainment ratio and heating coefficient of performance; The primary energy efficiency is more sensitive to Tw variation. Lastly, the R365mfc and R1233zd(E) show good potential as the alternative for the R245fa. The design methods, evaluation methods, and operational characteristics obtained in this study can provide reference and guidance for the application of heat recovery ejector heat pump technology in practical engineering.