The cross section of thermoplastic composite pipes (TCPs) consists of three layers: an inner liner, reinforcement laminates, and an outer jacket; the three layers are fully bonded together to form a solid-walled structure. In this study, the mechanical behaviors of TCPs under internal pressures were investigated using analytical and finite element analysis (FEA) methods. The analytical method that is based on the three-dimensional (3D) anisotropy elastic theory takes into account the nonuniform distribution of stresses and strains through the wall thickness of the pipe. FEA models were setup using the software abaqus to predict the stress distribution of a TCP. The 3D Tsai-Wu failure criterion was used to predict the maximum burst pressure of TCPs. Effects of winding angles and the number of reinforcement plies on the burst pressure of TCPs were studied. Results derived from the analytical method and the FEA method verified each other, which show that the burst pressure of a TCP increases asymptotically as the number of reinforcement plies increases. The optimal winding angle associated with the maximum burst pressure is not a constant value, instead, it varies as the thickness of the laminate layer increases. This study provides useful tools and guidance for the design and analysis of TCPs, while further validation experiments are still needed.