A driveshaft containment system and a method of its use. In preferred embodiments, the invention takes the form of a two component system including a first component mounted to a device such as a differential housing, coupled to driveshaft, and a second component comprising a tubular driveshaft containment housing. A driveshaft containment ring is preferably mounted to the forward end of the tubular housing which in turn is provided with a mechanism at its rearward end for rotationally engaging and disengaging the first component. The first and second components are also provided with a mechanism for preventing relative rotational movement of the first and second components while engaged with one another.