An experimental investigation on the operating characteristics of cold storage ejector cooling system with finned tube inside a cylindrical PCM tank was presented in this paper. The PCM cold storage tank was coupled with the evaporator to store the excess cooling capacity of ejector cooling system and provide cooling effect when the ejector did not operate. Medium temperature source (from solar collector or industrial waste) at temperature of 120 °C was the main driving force for ejector cooling system. The performance parameters, such as temperature inside the PCM tank, inlet and outlet temperature of heat transfer fluid, cold storage rate and cold storage capacity were measured at various mass flow rates, at the evaporator temperature of 3-5 °C. The same testing parameters were measured for discharging process at the heat source temperature of 25 °C. The experimental results demonstrated that the PCM cold storage with ejector cooling system was practically applicable.