We conducted a prospective, observational study of human immunodeficiency virus (HIV) infected patients diagnosed with tuberculosis (TB) at public health facilities in Thailand to evaluate the impact of TB and HIV treatment on overall physical and mental health. Standardized data were collected from patients at the time of TB diagnosis, two months into TB treatment, and at completion of TB treatment. We calculated composite physical and mental health scores for patients that completed treatment, compared scores during treatment, and analyzed factors associated with improvements in these scores. Of 493 patients analyzed, 488 (99%) reported at least one physical health complaint and 210 (43%) had at least one mental health complaint at baseline. Improvement in physical health occurred in 377 (76%) and improvement in mental health occurred in 182 (37%). In a multivariable analysis, factors strongly associated with improvement in physical health were receiving TB treatment in Bangkok, age greater than 50 years, and improved mental health. Improvement in mental health was strongly associated with alleviation of physical symptoms, including bloody urine, foot pain, headache, muscle weakness, difficulty sleeping, chest pain, and dizziness.