A system and method for speculatively parallelizing non-countable loops in a multi-threaded application. A multi-core processor receives instructions for a multi-threaded application. The application may contain non-countable loops. Non-countable loops have an iteration count value that cannot be determined prior to the execution of the non-countable loop, a loop index value that cannot be non-speculatively determined prior to the execution of an iteration of the non-countable loop, and control that is not transferred out of the loop body by a code line in the loop body. The compiler replaces the non-countable loop with a parallelized loop pattern that uses outlined function calls defined in a parallelization library (PL) in order to speculatively execute iterations of the parallelized loop. The parallelized loop pattern is configured to squash and re-execute any speculative thread of the parallelized loop pattern that is signaled to have a transaction failure.