This paper presents the Eulerian–Lagrangian approach for numerical modeling of high-speed gas-droplet flows and aeroacoustics. The proposed hybrid approach is implemented using the OpenFOAM library and two different methods. The first method is based on a hybrid convective terms approximation method employing a Kurganov–Tadmor and PIMPLE scheme. The second method employs the regularized or quasi-gas dynamic equations. The Lagrangian part of the flow description uses the OpenFOAM cloud model. Within this model, the injected droplets are simulated as packages (parcels) of particles with constant mass and diameter within each parcel. According to this model, parcels moving in the gas flow could undergo deceleration, heating, evaporation, and breakup due to hydrodynamic instabilities. The far-field acoustic noise is predicted using Ffowcs Williams and Hawking’s analogy. The Lagrangian model is verified using the cases with droplet evaporation and motion. Numerical investigation of water microjet injection into the hot ideally expanded jet allowed studying acoustic properties and flow structures, which emerged due to the interaction of gas and liquid. Simulation results showed that water injection with a mass flow rate equal to 13% of the gas jet mass flow rate reduced the noise by approximately 2 dB. This result was in good coincidence with the experimental observations, where maximum noise reduction was about 1.6 dB.