Seasonal energy storage effectively addresses seasonal electricity supply–demand imbalances. This study proposes a cross-seasonal compressed air energy storage system using a depleted gas reservoir as the storage reservoir. A six-stage compression–expansion system with intercooling and reheating is designed. Also, the heat of compression is recovered for district heating, and the expansion of cold energy is for cooling supply, thereby avoiding cross-seasonal heat storage costs. For the YD1 depleted gas reservoir case, the system achieves a round-trip efficiency of 57.85% and an exergy efficiency of 70.9%. The total energy utilization ratio, which represents the combined utilization of the electricity, heating, and cooling outputs relative to the corresponding energy input, reaches 166.6%. Incorporating revenue from the heating and cooling sales, the dynamic payback period is 2.38 years, and the investment recovery ratio reaches 4.40. Parametric analysis indicates that thermodynamic performance improves with the increase in discharge pressure and decrease in discharge power. Economic performance improves with longer daily operating hours and plant lifetime. This study demonstrates that depleted gas reservoirs combined with well-designed surface combined cooling, heating, and power systems offer a new research and development direction for large-scale, long-duration seasonal storage, facilitating renewable energy integration and grid stability.