Based on experimental data, typical off-design characteristic curves with corresponding formulas of internal combustion engine (ICE) are summarized and investigated. In combination with analytical solution of single-pressure heat recovery steam generator (HRSG) and influence of ambient pressure on combined heat and power (CHP) system, off-design operation regularities of ICE cogeneration are analyzed. The approach temperature difference Δ , relative steam production and superheated steam temperature decrease with the decrease in engine load. The total energy efficiency, equivalent exergy efficiency and economic exergy efficiency first increase and then decrease. Therefore, there exists an optimum value, corresponding to ICE best efficiency operating condition. It is worth emphasizing that Δ is likely to be negative in low load condition with high design steam parameter and low ICE design exhaust gas temperature. Compared with single shaft gas turbine cogeneration, Δ in ICE cogeneration is more likely to be negative. The main reason for this is that the gas turbine has an increased exhaust gas flow with the decrease in load; while ICE is on the contrary. Moreover, ICE power output and efficiency decrease with the decrease in ambient pressure. Hence, approach temperature difference, relative steam production and superheated steam temperature decrease rapidly while the cogeneration efficiencies decrease slightly. It is necessary to consider the influence of ambient conditions, especially the optimization of ICE performances at different places, on cogeneration performances.