Dry Ice Refrigerator is used for converting a conventional insulating picnic cooler or the like into a refrigerator includes a small container, disposable within the cooler, for dry ice. A rectangular frame includes a pair of refrigeration coils which are disposed in proximity to opposed side walls of the cooler. One end of each of the coils connects to the dry ice container. The other end of the coils connects to a manually adjustable valve having a pressed blow-out section for relieving excess pressure. The valve is disposed in the exterior of the container. It allows manual adjustment of the valve to control the rate of gas flow and thus the rate of sublimation of the dry ice and the temperature within the cooler.