Thermal energy storage (TES) system plays an essential role in the utilization and exploitation of renewable energy sources. Over the last two decades, single-tank thermocline technology has received much attention due to its high cost-effectiveness compared to the conventional two-tank storage systems. The present paper focuses on clarifying the performance indicators and the effects of different influencing factors for the thermocline TES systems. We collect the various performance indicators used in the existing literature, and classify them into three categories: (1) ones directly reflecting the quantity or quality of the stored thermal energy; (2) ones describing the thermal stratification level of the hot and cold regions; (3) ones characterizing the thermo-hydrodynamic features within the thermocline tanks. The detailed analyses on these three categories of indicators are conducted. Moreover, the relevant influencing factors, including injecting flow rate of heat transfer fluid, working temperature, flow distributor, and inlet/outlet location, are discussed systematically. The comprehensive summary, detailed analyses and comparison provided by this work will be an important reference for the future study of thermocline TES systems.