It will sell for $429 (£262) which is cheaper than the base iPad2 at $499.
The Thrive is equipped with Android 3.1, wi-fi, a Tegra 2 dual-core processor and an IPS display.
Connectivity comes in the shape of an HDMI port, USB sockets and Toshiba's Resolution+ technology, which is also fitted to its TVs.
Buyers will be able to choose from a selection of dfferent coloured back covers to customise their tablet.
US pricing is $429 for 8GB, $479 for 16GB and $579 for 32GB. UK prices have yet to be announced.