A power generation and energy storage power supply system of a shaft end generator, and a power supply method thereof are provided. The power supply system includes a shaft end generator (2), a rectifier (3), an energy storage device (4), an inverter (7), and a programmable logic controller (PLC) (6). The shaft end generator (2) is driven by an axle to generate electric energy and supplies the electric energy to the rectifier (3), and the rectifier (3) sends current to the energy storage device (4) for power supply and/or directly sends the current to the inverter (7). The PLC (6) switches power supply working conditions in real time according to collected power information of the energy storage device (4). When the energy storage device (4) meets an electrical load, the PLC (6) controls the rectifier (3) and/or the energy storage device (4) to transmit the current to the inverter (7). Otherwise, the rectifier (3) is controlled to send the rectified current to the energy storage device (4) for charging, and a charging source is derived from the shaft end generator (2) or the mains supply. The flexibility of vehicle marshalling is improved. The shaft end generator (2) is used, the size is small, and the cost is low.
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