A simulation model consisting of wind speed, wind turbine and AA-CAES (advanced adiabatic compressed air energy storage) system is developed in this paper, and thermodynamic analysis on energy conversion and transfer in hybrid system is carried out. The impacts of stable wind speed and unstable wind speed on the hybrid system are analyzed and compared from the viewpoint of energy conversion and system efficiency. Besides, energy conversion relationship between wind turbine and AA-CAES system is investigated on the basis of process analysis. The results show that there are several different forms of energy in hybrid system, which have distinct conversion relationship. As to wind turbine, power coefficient determines wind energy utilization efficiency, and in AA-CAES system, it is compressor efficiency that mainly affects energy conversion efficiencies of other components. The strength and fluctuation of wind speed have a direct impact on energy conversion efficiencies of components of hybrid system, and within proper wind speed scope, the maximum of system efficiency could be expected. (C) 2014 Elsevier Ltd. All rights reserved.