COSMO-based process simulations with Aspen Plus/Aspen HYSYS are used, for the first time, to a priori estimate the thermodynamic performance of ammonia absorption refrigeration cycles using ionic liquids as absorbents. This allows not only broadening the criteria set used to select/design ionic liquids with optimized properties to be used in that role, but also evaluating innovative strategies to improve the cycle’s performances. COSMO-RS method provides the information required for both creating the ionic liquid non-database components and specifying the COSMOSAC property model to perform Aspen Plus calculations. The computational procedure used here gives at the same time reasonable good property predictions of the vapor (refrigerant) and the condensed (ammonia+ionic liquid) phases as well as physically consistent estimations of the cycle’s performance under different conditions. Current results agree with those previously reported in the literature for several ionic liquid-based systems taken for comparison. In addition, task-specific ionic liquids, with improved properties for ammonia absorption, and also binary ionic liquid mixtures are considered in the analysis. It is obtained that ionic liquids showing higher ammonia absorption capacity among the considered absorbents simultaneously provide the best cycle’s performances. The cycle performances vary in relatively wide intervals depending on the ammonia concentration in the (refrigerant+absorbent) solutions. This behavior is strongly modulated by the ammonia absorption capacity of the selected absorbent. IL mixtures allow not only the tailoring of the working concentration interval of the cycle but also improving its performance.