To further improve the cycling performance of the cold storage packed bed for liquid air energy storage systems, a multi-cycle study was conducted on the two-dimensional continuous solid-phase model of the cold storage packed bed using the finite element simulation method. Performance improvement methods for filling phase change materials at the top of a packed bed in two different ways were proposed and analyzed. The influence of the thermal physical properties and filling thickness of different phase change materials on the key parameters of the composite cold storage packed beds was discussed. The results show that both the composite cold storage packed bed and the solid-phase cold storage packed bed have an increase in round-trip efficiency with the cycle times, and tend to a quasi-steady state in the 10th cycle. As the intermediate phase transition temperature of the phase change material increases, the rate of phase transition occurring in the cycle gradually decreases. The composite cold storage packed bed filled with phase change materials with higher intermediate phase change temperature, higher volumetric heat capacity, and higher latent heat of phase change exhibits better performance. Increasing the filling thickness of phase change materials can help further improve the performance of composite cold storage packed beds. The composite cold storage packed bed with the best comprehensive performance shows an increase of 15.2% in cold storage density and 0.22 percentage points in round-trip efficiency compared to the solid phase cold storage packed bed, while the cold storage efficiency only decreases by 1.52 percentage points. The research can provide theoretical guidance for the design of cold storage packed bed systems for large capacity liquid air energy storage.