The multi-stage water spray cooling system of the space launch site involves a complex gas–liquid two-phase mixed cooling problem in the process of spraying water onto the rocket engine gas jet. To investigate the complex multiphase flow field of the interaction between the airflow and liquid water jet, the Mixture multiphase flow model is adopted, which is coupled with the vaporization equation and component transport model of liquid water. The computational fluid dynamics method is used to numerically analyze the mixing and cooling mechanism of low-temperature liquid jet in high-temperature and high-speed gas flow. The results show that mixing low-temperature liquid jets in high-temperature and high-speed airflow can cause the exchange of momentum and energy, resulting in pressure loss and temperature reduction in the gas phase flow field. Due to the acceleration of transverse airflow, the diffusion flow range of the jet is significantly increased, and violent vaporization occurs, which further consume a large amount of airflow energy. The mixing cooling effect of transverse airflow and liquid water jet is directly related to the mass flow rate ratio of the jet to airflow. In addition, directly designing liquid water jet orifices on the solid wall of the guiding device can achieve the effect of improving the gas flow field environment. This conclusion can provide theoretical reference for the thermal protection design of ground launch devices in space launch site.