Cryotherapy is a treatment where your healthcare provider applies extreme cold to freeze and destroy abnormal tissue. To create this severe cold, your provider will use a substance like liquid nitrogen or argon gas. Cryotherapy can be used to treat a variety of skin conditions and some cancers, including prostate and liver cancer. This therapy can treat tissue externally (on the skin) and internally (inside the body). This treatment can also be called cryoablation.