In this paper, a modified solar assisted ejection-compression heat pump cycle (SEHPC) is proposed for drying application. Based on the basic ejection-compression heat pump cycle (BEHPC), an auxiliary flash tank and an internal heat exchanger are introduced to improve its heating performances. The introduction of flash tank can improve the heat absorption in evaporator and increase the volumetric heating capacity in condenser, which eventually reduce the throttling losses and enhance the performance of the SEHPC. The performances of the modified cycle with refrigerant R1234yf are analyzed and compared to those of basic cycle by developing the thermodynamic models based on the energy, exergy and economic analysis. Moreover, the main parameters, including evaporation temperature, condensation temperature, generation temperature, ejector back pressure, and the solar radiation intensity, are selected as variables for research. The theoretical results indicate that compared to BEHPC, the mechanical coefficient of heating performance COPw, the thermal coefficient of heating performance COPt, the volumetric heating capacity qhv and the exergy efficiency ηex of SEHPC are increased by 5.2%, 8.4%, 17.1%, and 8.0%, respectively, under a specified working condition. Furthermore, the SEHPC outperforms BEHPC under all given working conditions, especially at high condensation temperature and high generation temperature. The economic analysis results show that the cost per unit of exergy production by SEHPC is 6% lower than that of BEHPC. Additionally, the maximum exergy destruction occurred in the solar collector, which means great optimization potential in solar collector. This study demonstrates that SEHPC has practical performance improvement potential for heat pump drying application.