This study compared the effects of precooling (ice ingestion) and heat-acclimation training on cycling time-trial (CTT) performance in the heat. Fifteen male cyclists/triathletes completed two 800-kJ CTTs in the heat, with a 12-d training program in between. Initially, all participants consumed 7 g/kg of water (22°C) in 30 min before completing an 800-kJ CTT in hot, humid conditions (pre-CTT) (35°C, 50% relative humidity [RH]). Participants were then split into 2 groups, with the precooling group (n = 7) training in thermoneutral conditions and then undergoing precooling with ice ingestion (7 g/kg, 1°C) prior to the final CTT (post-CTT) and the heat-acclimation group (n = 8) training in hot conditions (35°C, 50% RH) and consuming water (7 g/kg) prior to post-CTT. After training in both conditions, improvement in CTT time was deemed a likely positive benefit (precooling −166 ± 133 s, heat acclimation −105 ± 62 s), with this result being similar between conditions (d = 0.22, −0.68–1.08 90% confidence interval [CI]). Core temperature for post-CTT was lower in precooling than in heat acclimation from 20 min into the precooling period until the 100-kJ mark of the CTT (d > 0.98). Sweat onset occurred later in precooling (250 ± 100 s) than in heat acclimation (180 ± 80 s) for post-CTT (d = 0.65, −0.30–1.50 90% CI). Thermal sensation was lower at the end of the precooling period prior to post-CTT for the precooling trial than with heat acclimation (d = 1.24, 0.90–1.58 90% CI). Precooling with ice ingestion offers an alternative method of improving endurance-cycling performance in hot conditions if heat acclimation cannot be attained.