A portable propane tank carrier system is provided which includes a tank carrier, stabilizer ring, and tank neck cover. The tank carrier includes a rectangular main tank cover panel, and upper and lower radial sidewall panel. The tank carrier closely conforms to the shape of a portable propane tank while providing an upper opening adapted to receive a neck portion of the tank and a lower opening adapted to receive a tank base ring portion of the tank. The stabilizer rings may be attached to the bottom of the tank carrier to prevent the tank from tipping over.