To solve problems in the cutting of Ti-5553, simulation and experimental studies were conducted with the cutting tool placed in low-temperature liquid nitrogen. A finite-element simulation of dry and liquid-nitrogen cryogenic cooling cutting processes was conducted, and an experiment on dry and liquid-nitrogen cryogenic cutting was implemented. The influence of the cutting parameters with a change in the cutting temperature, and the effect of liquid-nitrogen cryogenic cooling, were considered. The cutting temperature was significantly reduced. A numerical simulation of the tool temperature field can be realized and support the application of liquid-nitrogen cryogenic cooling during the Ti-5553 cutting process.