Three-body recombination is a phenomenon common in atomic and molecular collisions, producing heating in the system. However, we find the cooling effect of the three-body recombination of a 6Li Fermi gas near its s-wave narrow Feshbach resonance. Such counter-intuitive behavior is explained as follows, the threshold energy of the quasi-bounded Feshbach molecule acts as the knife of cooling, expelling the scattering atoms with selected kinetic energy from the trap. When the threshold energy happens to be larger than 3/2kBT, each lost atom in the three-body recombination process has more than 3kBT energy which results in cooling. The best cooling is found with the threshold energy set at about 3kBT, consistent with a theoretical model. The three-body recombination induced cooling raises potential applications for cooling complex atomic systems.