This paper presents thermodynamic model of the system for rubber strip (protector) cooling. This model is used for determining the number of cooling system cascades, and rubber contraction coefficient, important parameters in mechanical model of the system which is the starting point of designing control system for rubber strip cooling. The correlation between the working velocity and rubber strip dimension, as well as the relation for the cooling water flow per cascade is also given. [Projekat Ministarstva nauke Republike Srbije, br. III 43007, br. III 44006 i br. TR 35005]