Embodiments of the present invention provide a method, system and computer program product for software prioritization of concurrent transactions for embedded conflict arbitration in transactional memory management. In an embodiment of the invention, a method for software prioritization of concurrent transactions for embedded conflict arbitration in transactional memory management can include setting different hardware registers with different priority values for correspondingly different transactions in a transactional memory system configured for transactional memory management according to respective priority values specified by priority assignment logic in external software support for the system. The method also can include detecting a conflict amongst the transactions in the system. Finally, the method can include applying conflict arbitration within the system based upon the priority values specified by the priority assignment logic in the external software support for the system.