Recently, the theoretical framework of stochastic thermodynamics has been revealed to be useful for macroscopic systems. However, despite its conceptual and practical importance, the connection to hydrodynamics has yet to be explored. In this Letter, we reformulate the thermodynamics of compressible and incompressible Newtonian fluids so that it becomes comparable to stochastic thermodynamics and unveil their connections; we obtain the housekeeping–excess decomposition of the entropy production rate (EPR) for hydrodynamic systems and find a lower bound on EPR given by relative fluctuation similar to the thermodynamic uncertainty relation. These results not only prove the universality of stochastic thermodynamics but also suggest the potential extensibility of the thermodynamic theory of hydrodynamic systems. Published by the American Physical Society 2024