Unification of processing methods for the rapidly expanding range of structural materials used in rocket and space technology is an urgent task. This work is devoted to ultrafluid technologies, which are widely used in the processing of most materials in various manufacturing industries around the world. This article explores an innovative approach to hydro-cutting—cooling of jet-forming elements, which can lead to increase processing accuracy, as well as reduce wear of working surfaces due to the formation of a constantly renewed protective ice film. In addition to its protective function, the ice coating ensures the appearance of ice particles in the working jet, which act as an abrasive during the cutting process. Before carrying out experimental testing, three schemes for cooling the jet-forming elements were considered, after which the most appropriate one was selected. An experiment on water–ice cooling of jet-forming elements was carried out on a flat sample of aluminum alloy. As a result of the analysis of experimentally obtained data (cavity depth, bead height, roughness parameters), it was revealed that cooling the hydraulic jet makes it possible to achieve an increase in cutting depth of up to 540% with a slight increase in edge bead and cut roughness. It has also been experimentally confirmed that it is inappropriate to increase the pressure of the outgoing liquid flow above 150 MPa.