A rolled plate of 7075 aluminum alloy was friction-stir-processed (FSP) with simultaneous cooling by an air stream cooled to −11 °C with a jet cooling nozzle. Two variants of air blowing were used: at an angle of 45° to the sample surface and at an angle of 90°. The reference material was a sample subjected to analogous treatment but naturally cooled in still air. The microstructural tests revealed strong grain refinement in all the samples, with higher grain refinement obtained in the air-cooled friction-stir-processed samples. For the naturally cooled samples, the average grain size in the near-surface area was 7.6 µm, while for the air-cooled sample, it was 1.4 µm for the 45° airflow variant and 3.2 µm for the 90° airflow variant. A consequence of the greater grain refinement was that the hardness of the air-cooled friction-stir-processed samples was higher than that of the naturally cooled samples. The improvement in abrasive wear resistance was achieved only in the case of the friction-stir-processed specimens with air cooling. It was found that the change in the air blowing angle affects not only the degree of grain refinement in the stirring zone, but also the geometrical structure of the surface. In all the samples, FSP caused redistribution of the intermetallic precipitates combined with their partial dissolution in the matrix.