A strap protection system for effectively protecting cargo, straps and chains. The strap protection system generally includes a protective device having an elongated flat flexible structure, a first side adapted to be positionable adjacent to a cargo strap or a cargo chain, and a second side adapted to be positionable adjacent to a cargo object. A first inner fastener and a second inner fastener are attached to the protective device that are connectable to a first outer fastener and a second outer fastener respectively that are attached to the respective distal portions of the first strap and the second strap. The cargo strap or cargo chain is positioned adjacent the first side of the protective device and the straps are positioned over the cargo strap and secured to the inner fasteners thereby retaining the protective device adjacent to the cargo strap.