At present, there are relatively few studies on the exploitation of geothermal resources in depleted high-temperature gas reservoirs with carbon dioxide (CO2) as the heat-carrying medium. Taking the high-temperature gas reservoir of the Huangliu Formation in the Yingqiong Basin as the research object, we construct an ideal thermal and storage coupling model of a CO2 plume geothermal system using COMSOL6.2 software to conduct a sensitivity analysis of geological parameters in the operation of a CO2 plume geothermal system. The simulation results show that, compared with medium- and low-temperature reservoirs, a high-temperature reservoir exhibits higher fluid temperature in the production well and a higher heat extraction rate owing to a higher initial reservoir temperature but has a shorter system operational lifetime; the influence of the thermal conductivity of a thermal reservoir on the CO2 plume geothermal system is relatively minor, being basically negligible; and the thinner the thermal reservoir is, the faster the fluid temperature in the production well decreases and the shorter the thermal breakthrough time. These findings form a basis for selecting heat extraction areas for CO2 plume geothermal systems and also provide a theoretical reference for future practical CO2 plume geothermal system projects.