A temperature management system and a method of monitoring temperature in an ultrasound imaging system is provided. The system includes an ultrasound probe. The ultrasound probe includes at least one ultrasound transducer and a plurality of application specific integrated circuits. Further, the system includes at least one temperature sensing device disposed on at least one of the plurality of application specific integrated circuits. The temperature sensing devices are disposed in such a way that the sensing devices are in thermal contact with at least one heat producing region of the ultrasound probe.