Abstract: A universal thread protector is provided for protecting either of the pin and box ends of a pipe. The thread protector has a cap with an open end the closed end. A seal element is positioned within and adjacent to the open end of the cap. A ring member is positioned against the seal element between the seal element and the closed end of the cap. Bolts are provided having an end positioned against the ring member. The bolts are movable from an unactuated position to an actuated position wherein the bolt applies a force against the ring member when in the actuated position. As such, the ring member pushes against the seal element so as to deform or compress the seal element against the outer diameter of the pipe positioned within the cap. A method of protecting the threaded ends of pipe is also disclosed.