In this paper, a modified dual-evaporator CO2 transcritical refrigeration cycle with two-stage ejector (MDRC) is proposed. In MDRC, the two-stage ejector are employed to recover the expansion work from cycle throttling processes and enhance the system performance and obtain dual-temperature refrigeration simultaneously. The effects of some key parameters on the thermodynamic performance of the modified cycle are theoretically investigated based on energetic and exergetic analyses. The simulation results for the modified cycle show that two-stage ejector exhibits more effective system performance improvement than the single ejector in CO2 dual-temperature refrigeration cycle, and the improvements of the maximum system COP (coefficient of performance) and system exergy efficiency could reach 37.61% and 31.9% over those of the conventional dual-evaporator cycle under the given operating conditions. The exergetic analysis for each component at optimum discharge pressure indicates that the gas cooler, compressor, two-stage ejector and expansion valves contribute main portion to the total system exergy destruction, and the exergy destruction caused by the two-stage ejector could amount to 16.91% of the exergy input. The performance characteristics of the proposed cycle show its promise in dual-evaporator refrigeration system. (C) 2015 Elsevier Ltd. All rights reserved.