Thermal management system is of critical importance for a Li-ion battery pack, as high performance and long battery pack life can be simultaneously achieved when operated within a narrow range of temperature around the room temperature. An efficient thermal management system is required to keep the battery temperature in this range, despite widely varying operating conditions. A novel liquid coolant based thermal management system, for 18,650 battery pack has been introduced herein. This system is designed to be compact and economical without compromising safety. A coupled three-dimensional (3D) electrochemical thermal model is constructed for the proposed Li-ion battery pack. The model is used to evaluate the effects of different operating conditions like coolant flow-rate and discharge current on the pack temperature. Contact resistance is found to have the strongest impact on the thermal performance of the pack. From the numerical solution, a simple and novel temperature correlation of predicting the temperatures of all the individual cells given the temperature measurement of one cell is devised and validated with experimental results. Such coefficients have great potential of reducing the sensor requirement and complexity in a large Li-ion battery pack, typical of an electric vehicle.