The water-guided laser processing technology exhibits superior processing capability due to the small thermal influence of the surface of the processed material and strong processing depth. Based on the mechanism of water-guided laser processing, a new water-guided laser shrinkage guide method is proposed, and the mechanism of shrinkage is analyzed. The feasibility of the processing method is verified by the high-efficiency coupling test and material processing test between laser and the shrinkage column. The test results show that when the air pressure is constant, the velocity, diameter and length of the laminar flow column of shrinkage increase with the increase of water pressure. When the water pressure is constant, with the increase of air pressure, the velocity of the laminar column increases, and the diameter and length gradually decrease. At the same time, the processing experiment is carried out by adjusting the laser and the laminar water column to couple the optimal conduction laser conditions. Compared with the processing results in air, the water-air shrinkage conduction laser processing technology has obvious improvement in the heat-affected zone and thermal accumulation, and the feasibility of the new water-air shrinkage conduction laser processing technology is preliminarily verified.