A novel power generation system integrating an organic Rankine cycle (ORC) with an air-cooled coal-fired power plant is proposed to achieve cascaded utilization of steam energy and enhance output power capability. Based on the efficient thermoelectric conversion characteristics of the ORC system at low and medium temperatures, the steam expanding to a certain level in the coal-fired unit is extracted to drive the ORC system for higher output power. This coupling scheme can achieve the multiple purposes of increasing output power, recovering exhaust steam waste heat and preventing air cooler icing in winter. Focusing on a 600 MW coal-fired power plant, thermodynamic performance evaluation has been carried out. The results show that, when the extraction flow rate is 160 kg/s, the thermal efficiency of the system at 50% THA, 75% THA and 100% THA loads increases by 3.48, 1.72 and 1.08 percentage points, respectively. The exergy efficiency increases by 3.38, 1.68 and 1.05 percentage points, and the coal consumption rate decreases by 27.72, 12.88 and 7.92 g/(kW·h), respectively. The heat recovery rate reaches 64.57%, 25.64% and 15.40%, respectively. This approach not only improves the performance of existing air-cooled coal-fired power plants, but also reduces coal consumption, and the research results can provide a way to improve the overall performance of power plants.