Annular　thermoelectric　generators　(ATEG)　are　increasingly　attracting　attention　and　are　pivotal　in　thermal　energy　recovery　due　to　their　unique　characteristics,　which　can　be　perfectly　adapted　to　cylindrical　heat　sources.　Considering　the　efficient　thermal　management　and　power　generation　of　thermoelectric　generator　(TEG),　phase　change　material　(PCM)　can　be　integrated　with　the　cold　side　of　TEG　as　a　favourable　cooling　medium　to　meet　its　functional　requirements.　However,　previous　studies　have　focused　on　the　intrinsic　connection　between　flat-plat　TEG　and　PCM,　while　the　impact　of　PCM　on　ATEG　has　not　been　systematically　explored.　In　the　present　study,　an　annular　thermoelectric　generator　with　PCM　(ATEG-PCM)　under　a　pulsed　heat　source　is　proposed,　and　its　dynamic　characteristics　and　energy　distribution　are　evaluated.　The　effects　of　PCM　parameters　such　as　height,　latent　heat　and　melting　temperature　are　comprehensively　explored　from　multi-index,　including　PCM　temperature,　liquid　fraction,　temperature　difference,　output　power,　energy　and　exergy　efficiencies.　Furthermore,　a　comparative　investigation　of　ATEG-PCM,　PCM-ATEG　where　PCM　is　applied　on　the　hot　side,　and　ATEG　without　PCM　is　further　carried　out　to　clarify　the　coupled　mechanism　of　PCM　on　thermal　management　and　power　generation　enhancement　of　ATEG.　The　results　indicate　that　the　energy　efficiency　of　ATEG-PCM　has　saturated　at　PCM　height　of　10　mm　to　12　mm,　while　the　exergy　efficiency　merely　slightly　increases.　Especially,　the　PCM　melting　temperature　merely　affects　the　time　at　which　PCM　initiates　to　change　from　solid　state　to　liquid　state,　without　affecting　the　total　energy　efficiency　of　ATEG-PCM.　Furthermore,　the　comparison　analysis　determines　that　ATEG-PCM　deserves　more　attention,　judging　by　thermal　management　and　power　generation.　This　work　not　only　contributes　to　the　understanding　of　the　coupling　mechanisms　between　PCM　and　ATEG　but　also　provides　a　research　direction　for　energy　recovery　in　PCM　based　ATEG　hybrid　system.　©　2023　Elsevier　Ltd