diff --git a/cpp/src/arrow/json/reader_test.cc b/cpp/src/arrow/json/reader_test.cc
index a52626413d68..b23d6050716a 100644
--- a/cpp/src/arrow/json/reader_test.cc
+++ b/cpp/src/arrow/json/reader_test.cc
@@ -290,6 +290,39 @@ TEST(ReaderTest, MultipleChunksParallel) {
   AssertTablesEqual(*serial, *threaded);
 }
 
+// Regression test for intermittent threading crashes on MinGW.
+// Run this test multiple times manually to stress-test:
+//   while build/debug/arrow-json-test \
+//       --gtest_filter=ReaderTest.MultipleChunksParallelRegression; do :; done
+// See https://github.com/apache/arrow/issues/49272
+
+// Helper used by multiple-chunk parallel tests to build the JSON input,
+// configure read options and read the resulting table.
+static Result<std::shared_ptr<Table>> ReadMultipleChunksParallelTable(
+    int64_t count, bool use_threads, const ParseOptions& parse_options) {
+  ReadOptions read_options;
+  read_options.block_size = static_cast<int>(count / 2);
+  read_options.use_threads = use_threads;
+
+  std::string json;
+  json.reserve(static_cast<size_t>(count) * 16);  // rough reserve to avoid reallocations
+  for (int64_t i = 0; i < count; ++i) {
+    json += "{\"a\":" + std::to_string(i) + "}\n";
+  }
+
+  return ReadToTable(std::move(json), read_options, parse_options);
+}
+
+TEST(ReaderTest, MultipleChunksParallelRegression) {
+  int64_t count = 1 << 10;
+  ParseOptions parse_options;
+  parse_options.unexpected_field_behavior = UnexpectedFieldBehavior::InferType;
+
+  ASSERT_OK_AND_ASSIGN(auto table, ReadMultipleChunksParallelTable(
+                                       count, /*use_threads=*/true, parse_options));
+  ASSERT_EQ(table->num_rows(), count);
+}
+
 TEST(ReaderTest, ListArrayWithFewValues) {
   // ARROW-7647
   ParseOptions parse_options;
diff --git a/cpp/src/arrow/util/thread_pool.cc b/cpp/src/arrow/util/thread_pool.cc
index bf107006f8bc..0f6356eef463 100644
--- a/cpp/src/arrow/util/thread_pool.cc
+++ b/cpp/src/arrow/util/thread_pool.cc
@@ -31,6 +31,7 @@
 #include "arrow/util/io_util.h"
 #include "arrow/util/logging_internal.h"
 #include "arrow/util/mutex.h"
+#include "arrow/util/windows_compatibility.h"
 
 #include "arrow/util/tracing_internal.h"
 
@@ -630,9 +631,58 @@ void ThreadPool::CollectFinishedWorkersUnlocked() {
   state_->finished_workers_.clear();
 }
 
+// MinGW's __emutls implementation for C++ thread_local has known race conditions
+// during thread creation that can cause segfaults. Use native Win32 TLS instead.
+// See https://github.com/apache/arrow/issues/49272
+#  ifdef __MINGW32__
+
+namespace {
+DWORD GetPoolTlsIndex() {
+  static DWORD index = [] {
+    DWORD i = TlsAlloc();
+    if (i == TLS_OUT_OF_INDEXES) {
+      ARROW_LOG(FATAL) << "TlsAlloc failed for thread pool TLS: "
+                       << WinErrorMessage(GetLastError());
+    }
+    return i;
+  }();
+  return index;
+}
+}  // namespace
+
+static ThreadPool* GetCurrentThreadPool() {
+  // Preserve the caller's last-error value while also detecting TLS failures.
+  DWORD original_error = GetLastError();
+  // Ensure a successful TlsGetValue() leaves GetLastError() == 0.
+  SetLastError(0);
+  auto* pool = static_cast<ThreadPool*>(TlsGetValue(GetPoolTlsIndex()));
+  DWORD tls_error = GetLastError();
+  if (tls_error != 0) {
+    // Restore the original error before logging a fatal TLS failure.
+    SetLastError(original_error);
+    ARROW_LOG(FATAL) << "TlsGetValue failed for thread pool TLS: "
+                     << WinErrorMessage(tls_error);
+  }
+  // No TLS error: restore the caller's last-error value and return the pool.
+  SetLastError(original_error);
+  return pool;
+}
+
+static void SetCurrentThreadPool(ThreadPool* pool) {
+  BOOL ok = TlsSetValue(GetPoolTlsIndex(), pool);
+  if (!ok) {
+    ARROW_LOG(FATAL) << "TlsSetValue failed for thread pool TLS: "
+                     << WinErrorMessage(GetLastError());
+  }
+}
+#  else
 thread_local ThreadPool* current_thread_pool_ = nullptr;
 
-bool ThreadPool::OwnsThisThread() { return current_thread_pool_ == this; }
+static ThreadPool* GetCurrentThreadPool() { return current_thread_pool_; }
+static void SetCurrentThreadPool(ThreadPool* pool) { current_thread_pool_ = pool; }
+#  endif
+
+bool ThreadPool::OwnsThisThread() { return GetCurrentThreadPool() == this; }
 
 void ThreadPool::LaunchWorkersUnlocked(int threads) {
   std::shared_ptr<State> state = sp_state_;
@@ -641,7 +691,7 @@ void ThreadPool::LaunchWorkersUnlocked(int threads) {
     state_->workers_.emplace_back();
     auto it = --(state_->workers_.end());
     *it = std::thread([this, state, it] {
-      current_thread_pool_ = this;
+      SetCurrentThreadPool(this);
       WorkerLoop(state, it);
     });
   }
diff --git a/cpp/src/arrow/util/thread_pool_test.cc b/cpp/src/arrow/util/thread_pool_test.cc
index 45441fa32165..c1391c8be883 100644
--- a/cpp/src/arrow/util/thread_pool_test.cc
+++ b/cpp/src/arrow/util/thread_pool_test.cc
@@ -44,6 +44,7 @@
 #include "arrow/util/macros.h"
 #include "arrow/util/test_common.h"
 #include "arrow/util/thread_pool.h"
+#include "arrow/util/windows_compatibility.h"
 
 namespace arrow {
 namespace internal {
@@ -660,6 +661,34 @@ TEST_F(TestThreadPool, OwnsCurrentThread) {
   ASSERT_FALSE(one_failed);
 }
 
+#ifdef _WIN32
+TEST_F(TestThreadPool, OwnsThisThreadPreservesLastError) {
+#  ifndef ARROW_ENABLE_THREADING
+  GTEST_SKIP() << "Test requires threading support";
+#  endif
+  auto pool = this->MakeThreadPool(4);
+
+  // Verify from outside the pool: OwnsThisThread() must not clobber
+  // the calling thread's last-error state.
+  ::SetLastError(ERROR_FILE_NOT_FOUND);
+  ASSERT_FALSE(pool->OwnsThisThread());
+  ASSERT_EQ(::GetLastError(), static_cast<DWORD>(ERROR_FILE_NOT_FOUND));
+
+  // Verify from inside a pool thread.
+  std::atomic<bool> error_preserved{true};
+  ASSERT_OK(pool->Spawn([&] {
+    ::SetLastError(ERROR_ACCESS_DENIED);
+    ASSERT_TRUE(pool->OwnsThisThread());
+    if (::GetLastError() != ERROR_ACCESS_DENIED) {
+      error_preserved = false;
+    }
+  }));
+
+  ASSERT_OK(pool->Shutdown());
+  ASSERT_TRUE(error_preserved.load());
+}
+#endif
+
 TEST_F(TestThreadPool, StressSpawnThreaded) {
 #ifndef ARROW_ENABLE_THREADING
   GTEST_SKIP() << "Test requires threading support";