Abstract: A thread protector particularly adapted for protecting external pipe threads. The protector is comprised of a generally frusto-conical open ended metal outer shell which embraces and is affixed to a similarly formed plastic inner sleeve. Both the shell and sleeve include radially inward directed flanges at the protector inner end merging into lips which extend generally toward the protector outer end. The inner sleeve directly confronts the outer shell at the flange and lip areas but is spaced from the shell at the protector side wall areas by a plurality of spacing ribs. This spaced apart relationship between the shell and sleeve cushions blows which may be received against the protector after installation on a threaded member. The inner side wall surface of the sleeve is threaded from adjacent the outer end toward the inner end to facilitate convenient threaded mounting of the protector.