An apparatus and method are described for quickly inducing therapeutic hypothermia of the heart by perfusing the myocardium with hypothermic fluid in alternatingly antegrade and retrograde directions. The apparatus and method provide rapid cooling of the affected myocardium to achieve optimal myocardial salvage in a patient experiencing acute myocardial infarction. The therapeutic hypothermia system includes one or more coronary artery perfusion catheters, a coronary sinus perfusion catheter and a fluid source for delivering a hypothermically-cooled physiologically-acceptable fluid, such as saline solution, oxygenated venous blood, autologously-oxygenated arterial blood and/or an oxygenated blood substitute. The system may also include one or more guidewires, subselective catheters and/or interventional catheters introduced through a lumen in one or more of the perfusion catheters.