Paul Gayton Thormodsgard (born November 10, 1953) is a former Major League Baseball pitcher who played in the late 1970s. He threw and batted right-handed. Thormodsgard played three seasons in the majors, all of them as a member of the Minnesota Twins from 1977 to 1979. In 50 career games, Thormodsgard had a 12–21 record with an ERA of 4.74. He allowed 4 home runs, 33 runs, and had 118 strikeouts.

In 1977, Thormodsgard started 37 games while posting an 11–15 record and striking out 94 batters. In Thormodsgard's final season in 1979, he pitched one inning in one game in relief, allowing one run and getting a no decision.