The purpose of this study was to investigate the effect of precooling on the chronotropic index defined as the slope of the heart rate (HR) and oxygen uptake during incremental exercise. Ten men performed incremental exercise following 2 conditions: control (rest in a thermoneutral laboratory, 21.5 ± 0.7 °C; performed first) and precooling (cold-water immersion, 23.1 ± 0.2 °C). Prior to exercise, core temperature was significantly lower for precooling (36.6 ± 0.3 °C) compared with control (37.1 ± 0.4 °C; p < 0.001) and remained lower throughout exercise (p < 0.05). Time to volitional fatigue during the incremental exercise test was significantly longer in the control (914 ± 97 s) compared with precooling (889 ± 97 s; p = 0.015). Precooling reduced HR by 8-10 beats·min(-1) compared with control throughout exercise (peak HR: precooling, 178 ± 9 beats·min(-1); control, 188 ± 6 beats·min(-1); p = 0.001). Oxygen uptake did not differ between conditions (p > 0.05). The chronotropic index did not differ between conditions (p = 0.301); however, the y intercept was significantly lower (p = 0.009) for precooling (53.6 ± 11.0) compared with control (67.3 ± 11.0). Thus, the benefit of precooling was a lower HR that was maintained throughout exercise rather than a reduced rate of rise in HR. These results suggest the potential use of precooling to mitigate cardiovascular strain in individuals working at elevated metabolic rates. However, the reduced exercise time warrants consideration.