A modular hip prosthesis, comprising: (a) a proximal segment including a neck lockingly engageable with a femoral head component and a male tapered portion; (b) a distal segment having a proximal end and a distal tip, the distal segment further formed with a male tapered portion adjacent the proximal end thereof; and (c) a metaphyseal segment having a proximal end and a distal end, the metaphyseal segment preferably including a bone engaging outer surface portion, and further including an axial bore therethrough, the axial bore including first and second female tapered portions formed adjacent the proximal and distal ends thereof, respectively. The first female tapered portion of the metaphyseal segment is dimensionally configured to lockingly engage the male tapered portion of the proximal segment. The second female tapered portion of the metaphyseal segment is dimensionally configured to lockingly engage the male tapered portion of the distal segment. Optionally, a screw dimensionally configured to pass through aligned bores in the proximal, metaphyseal and distal segments is threadably engaged with a threaded bore formed in the proximal end of the distal segment.