Thermal management of Li-ion cells is an important technological problem for energy conversion and storage. Effective dissipation of heat generated during the operation of a Li-ion cell is critical to ensure safety and performance. In this paper, thermal performance of a cylindrical Li-ion cell with an axial channel for coolant flow is analyzed. Analytical expressions are derived for steady-state and transient temperature fields in the cell. The analytical models are in excellent agreement with finite-element simulation results. The dependence of the temperature field on various geometrical and thermal characteristics of the cell is analyzed. It is shown that coolant flow through even a very small diameter axial channel results in significant thermal benefit. The trade-off between thermal benefit and reduction in cell volume, and hence capacity due to the axial channel, is analyzed. The effect of axial cooling on geometrical design of the cell, and transient thermal performance during a discharge process, is also analyzed. Results presented in this paper are expected to aid in the development of effective cooling techniques for Li-ion cells based on axial cooling. Copyright (c) 2014 John Wiley & Sons, Ltd.