In this paper we study the sensitivity of the Large Sky Area Multi-Object Fiber Spectroscopic Telescope (LAMOST) project to the determination of cosmological parameters, employing the Monte Carlo Markov Chains (MCMC) method. For comparison, we first analyze the constraints on cosmological parameters from current observational data, including WMAP, SDSS and SN Ia. We then simulate the 3D matter power spectrum data expected from LAMOST, together with the simulated CMB data for PLANCK and the SN Ia from 5-year Supernovae Legacy Survey (SNLS). With the simulated data, we investigate the future improvement on cosmological parameter constraints, emphasizing the role of LAMOST. Our results show the potential of LAMOST in probing for the cosmological parameters, especially in constraining the equation-of-state (EoS) of the dark energy and the neutrino mass.