The town of Stanley, Idaho is about 6 miles (9.7 km) northeast of Thompson Peak.

Directly to the north is neighboring Williams Peak, while Mickey's Spire is 0.24 miles (0.39 km) to the south-southwest.

There are a total of four routes to the top of Thompson Peak: South Couloir - class 3, Southwest Couloir - 5.2, Northeast Face - 5.8, West Crack - 5.2.

From there, follow the Alpine Way Trail to the base of Williams Peak before going off trail up to an unnamed lake to the northeast of Thompson Peak.

Then, head up to the saddle between Thompson and Williams Peaks before making the class 3 scramble on the west-southwest side of the peak that begins on the Thompson-Mickey's Spire saddle.