AbstractThis work investigates the thermo-hydraulic characteristics of a novel reverse jet impingement cooling 3-D module for high-power systems, entailing a single jet impinging upon a concave hemispherical surface within a double-wall cooling configuration. Water-based nanofluids, with Al2O3 and multi-wall carbon nanotubes (MWCNT), were subject to a comprehensive examination at a range of Reynolds numbers from 10,000 to 40,000. The computational framework utilized the volume of fluid (VOF) model for precise phase interface tracking, along with the $$k-\omega$$ k - ω SST turbulence model. The results demonstrated that nanofluids have remarkable heat transfer enhancement, compared to water. The maximum Nusselt number augmentation reached 61.76% and 77.47% for 2.0% Al2O3 and 0.04% MWCNT nanofluids, respectively. The thermal performance improved when escalating nanoparticle concentration and Reynolds numbers, reaching a cooling module’s thermal resistance of only 0.0266 K W−1. However, mild increments in pressure drop of up to 7.80 and 3.04% were noticed at the lowest Reynolds number for the two nanofluids, respectively. MWCNT nanofluids exhibited superior thermal enhancement over their Al2O3 counterparts despite their lower concentrations. The greatest combined thermo-hydraulic performance was attained with a 0.04% MWCNT nanofluid at a Reynolds number of 20,000, where the energy performance was boosted by 77%, compared to water. The study identified significant conjugate heat transfer effects, demonstrating how temperature gradients within the solid walls directly influenced heat transfer coefficients and thermal resistances within the fluid phase. These findings provide a deeper understanding of thermal management strategies for high-power systems. Graphic abstract