Lubrication and cooling of a high speed grinding process in the grinding machine as in a mechatronic system using technological liquids are analyzed in this paper. It is shown that in the case of high grinding speed, technological liquids undergo an aeration process and due to this their physical properties change. Reynolds equation, which estimates the aeration liquid, is derived. It is shown, that the application of such an equation is proper only in the finishing of grinding. Experimental research is also presented in the paper, which shows the influence of technological liquids to the temperature field of the grinding machine and to its automatic control.