Lithium-ion capacitor technology (LiC) is well known for its higher power density compared to electric double-layer capacitors (EDLCs) and higher energy density compared to lithium-ion batteries (LiBs). However, the LiC technology is affected by a high heat generation problem in high-power applications when it is continuously being charged/discharged with high current rates. Such a problem is associated with safety and reliability issues that affect the lifetime of the cell. Therefore, for high-power applications, a robust thermal management system (TMS) is essential to control the temperature evolution of LiCs to ensure safe operation. In this regard, developing accurate electrical and thermal models is vital to design a proper TMS. This work presents a detailed 1D/3D electro-thermal model at module level employing MATLAB/SIMULINK® coupled to the COMSOL Multiphysics® software package. The effect of the inlet coolant flow rate, inlet coolant temperature, inlet and outlet positions, and the number of arcs are examined under the cycling profile of a continuous 150 A current rate without a rest period for 1400 s. The results prove that the optimal scenario for the LCTMS would be the inlet coolant flow rate of 500 mL/min, the inlet temperature of 30 °C, three inlets, three outlets, and three arcs in the coolant path. This scenario decreases the module’s maximum temperature (Tmax) and temperature difference by 11.5% and 79.1%, respectively. Moreover, the electro-thermal model shows ±5% and ±4% errors for the electrical and thermal models, respectively.