The 22-year-old is due to be sent out in May with colleagues from the Blues and Royal regiment.
Threats have been posted on extremist Web sites since his deployment was revealed, The Sun says.
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One message said: "Prince Harry will be sent to Iraq to be killed by Muslims."
Another added: "May Allah give him what he deserves — like his fellow crusaders."
Army officials fear the Prince will be paraded on television if he is kidnapped.
Harry was 'over the moon' at his deployment A Blues and Royals source told the paper: "Officially Harry is being treated just like any other soldier but in reality everyone knows how desperate the insurgents out there will be to get their hands on him."
Internet terror expert Neil Doyle was quoted as saying: "Harry would be the ultimate prize for one of these insurgent groups.
"He would be worth his weight in gold in propaganda terms if killed or captured."
From the end of May, the prince will be patrolling in Scimitar armored reconnaissance vehicles in Maysan.
Harry will this week pose as a hooded hostage in a special training exercise, the paper says.
His men will use tear gas and stun grenades to free him.
More than 100 British soldiers have been killed since the 2003 invasion.
Complete coverage is available in FOXNews.com's Iraq Center.