The Prince Theatre (1882–1924) was the first modern Western-style theatre in Siam, originally named the Siamese Theatre. It stood on the grounds of Chaophraya Mahinthrasakdithamrong’s residence in the Tha Tien area, opposite Wat Pho, now encompassing Soi Sahakon 1–4.

Chaophraya Mahinthrasakdithamrong (Peng Phengkhlun) was a trusted aide of King Rama IV. He founded and owned the theatre, which became one of his proudest achievements. The idea came from his visit to London during a diplomatic trip to England. There, he was impressed by the theatres and performances he saw. When he returned to Siam, he combined European ideas with Thai lakhon nok. This led to a new style of performance called Lakhon Phanthang. The shows featured beautiful and realistic costumes along with creative, modern stage designs. They blended Thai literary stories with Western theatrical style. Because of its elegance and innovation, the theatre became a popular place to welcome and entertain foreign guests.

It was also the first theatre in Siam to charge an admission fee, staging performances for seven days each month (on the waxing moon), announced as the “week”. This use of the English word week influenced the Thai word wik, which came to mean “theatre,” as in wik likay or wik lakhon. After Chaophraya Mahinthrasakdithamrong’s death in 1894, his son Bus Mahinthorn took over, renaming the troupe Bus Mahinthorn Theatre. In 1900 in the reign of King Rama V, the troupe performed in Berlin, Germany — the first Thai theatre company to tour Europe — but the tour failed financially. Bus Mahinthorn died shortly after returning to Siam in 1901, marking the end of the Prince Theatre.