A shoe last for air activation and air cooling utilized to heat and activate as well as cool and shape a semi-finished shoe made up of a midsole and a vamp includes a body, at least one inlet, and at least one jet outlet. The body has an outer surface. The at least one inlet is disposed on the outer surface of the body. The at least one jet outlet is disposed on the outer surface of the body, is spaced apart from the at least one inlet, and fluidly communicates with the at least one inlet. The semi-finished shoe is sleeved on the body and covers the at least one jet outlet. Gas is injected into the body via the at least one inlet, flows out of the body via the at least one jet outlet, and is ejected to the semi-finished shoe.