This work presents the assessment of direct water injection in spark-ignition engines using single cylinder experiments and tabulated chemistry-based simulations. In addition, direct water injection is compared with cooled low-pressure exhaust gas recirculation at full load operation. The analysis of the two knock suppressing and exhaust gas cooling methods is performed using the quasi-dimensional stochastic reactor model with a novel dual fuel tabulated chemistry model. To evaluate the characteristics of the autoignition in the end gas, the detonation diagram developed by Bradley and co-workers is applied. The single cylinder experiments with direct water injection outline the decreasing carbon monoxide emissions with increasing water content, while the nitrogen oxide emissions indicate only a minor decrease. The simulation results show that the engine can be operated at λ = 1 at full load using water–fuel ratios of up to 60% or cooled low-pressure exhaust gas recirculation rates of up to 30%. Both technologies enable the reduction of the knock probability and the decrease in the catalyst inlet temperature to protect the aftertreatment system components. The strongest exhaust temperature reduction is found with cooled low-pressure exhaust gas recirculation. With stoichiometric air–fuel ratio and water injection, the indicated efficiency is improved to 40% and the carbon monoxide emissions are reduced. The nitrogen oxide concentrations are increased compared to the fuel-rich base operating conditions and the nitrogen oxide emissions decrease with higher water content. With stoichiometric air–fuel ratio and exhaust gas recirculation, the indicated efficiency is improved to 43% and the carbon monoxide emissions are decreased. Increasing the exhaust gas recirculation rate to 30% drops the nitrogen oxide emissions below the concentrations of the fuel-rich base operating conditions.