High pressure processing is a novel food preservation technology, applied for over 15 years in the food industry to inactivate spoilage and pathogenic microorganisms. Many studies have shown the differential resistance of bacterial cells to high pressure. Listeria monocytogenes is a bacterium able to grow at refrigerated temperature and to survive for a long time in minimally processed foods such as raw smoked fish. The freezing process does not cause significant decline of L. monocytogenes. The phase diagram of water under pressure permits a pressure treatment under subzero temperature, without the disadvantages of freezing for food quality. The aim of this study was to estimate if combined effects of pressure and subzero temperature could increase the destruction of L. monocytogenes in buffer and in smoked salmon. We investigated effects of high pressure processing (100, 150, and 200 MPa) combined with subzero temperatures (−10, −14, and −18°C) and pH (7.0 and 4.5). Results showed that the most effective high-pressure treatment to inactivate L. monocytogenes was 200 MPa, −18°C, and pH 4.5. The relevance of pressure holding time and the synergistic effect of pressure coupled with the subzero temperature to inactivate bacteria are highlighted. Modifications of physical properties (color and texture) were a lightening of color and an increase of toughness, which might be accepted by consumers, since safety is increased.