The present invention relates to a waterproof limb protector for preventing moisture from in contact with an affected area of an injured limb. The waterproof limb protector comprises an elongated neoprene sheath with an open end for receiving the limb in need of protection, and an adjustable neoprene sealing strap with a fixed end attached adjacent to the open end of the sheath. The sealing strap further comprises a VELCRO.RTM. fastener with one fastener member attached to the distal free of the sealing strap and the other fastener member to the middle section of the sealing strap. The two fastener members are attached on the opposite side of the sealing strap. To secure the sheath to an injured limb, the sealing strap is wrapped around the circumference of the open end as such that the two VELCRO.RTM. fastener members are in contact to provide an effective but comfortable watertight seal around the open end. Alternatively, the sealing strap may further comprise a VELCRO.RTM. hook fastener on the inside surface of the free end, and a looped outside surface that is matable with the hook fastener for facilitated one-handed engagement.