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Existing natural gas pipelines can facilitate low-cost, large-scale hydrogen transportation and storage, but hydrogen may entail safety challenges. These challenges stem from hydrogen’s different properties compared to natural gas, such as higher ignition probability, different flame behavior, and potential for hydrogen embrittlement. Although risk assessments for hydrogen pipelines are increasing, the impact of hydrogen on the risk of third-party excavation damage (TPD), the major cause of pipeline incidents in the U.S., has received little attention. This work presents the SHyTERP model for Safe Hydrogen Transportation and Excavation Risk Prevention for Pipelines. The model incorporates causal models, excavation damage and pipeline failure statistics, and validated physical models of hydrogen and natural gas release and jet flame behavior. Through four case studies, the model compares the TPD risks of hydrogen and natural gas pipelines, offering insights and recommendations for the safe implementation of hydrogen in existing pipelines.