The authorities caught the 48-year-old and an accomplice allegedly breaking into a building in the Chinatown area of Bangkok, AFP reports.
Police then found over a thousand pairs of underwear in his car and more than ten thousand in his home.
Major General Saroj Promcharoen said: "He smelled them all the time. Even while driving."
The man reportedly admitted stealing women's undergarments since he was 18.
The Thai man will not be charged with stealing the underwear because of a lack of plaintiff, but he has been charged with stealing other property.
In 2010, a cat in Southampton was identified as the creature responsible for the theft of knickers and other clothing from washing lines in the area.
Six months ago, a kangaroo in Prague was caught 'stealing' the underwear of several neighbours after hopping into their gardens.