An insulated pipe concealer is provided comprising an elongated plastic pipe sleeve with a left side and right side pivotally connected to each other and adapted to close. An elongated insulation element is found inside the pipe sleeve with a channel adapted to receive a pipe. Latches for fastening the two sides of the pipe sleeve together; and hinged flaps adapted for attachment to a wall are attached to the exterior of the pipe sleeve. This pipe concealer is particularly useful in covering refrigeration pipes found on building exteriors.