The problems associated with machining CFRTP (carbon fiber reinforced thermoplastics) are short tool life and burrs. In this study, side milling tests are carried out dry and with two types of coolants liquefied carbon dioxide (LCO_2 ) and liquefied nitrogen (LN_2 ). The workpiece material is a composite material made of carbon fibers and polyetheretherketon (CF/PEEK) Cutting force, surface integrity and tool wear are evaluated, and the elastic modulus of the CF/PEEK is examined. The use of liquefied nitrogen as a coolant suppresses burrs effectively. There is no significant difference in tool wear between the dry and cryogenic conditions. The finished surface roughness increases with the cutting length, and milling with liquefied nitrogen shows the highest surface roughness. The elastic modulus of CF/PEEK under cryogenic condition is higher than that at room temperature.