This invention relates to a threaded valved inflation needle designed for controlled inflation or deflation of balls and toys by communicating with standard air sources, inflation methods and pressure monitoring devices. The invention is useful for adjustment and monitoring of internal pressure in balls that utilize a rubber valve of the type that commonly appears in recreational balls. The invention is also useful for controlled inflation of toys that utilize plastic pull out valves for communicating with external air sources. The utility and convenience of the threaded valved inflation needle is further enhanced by a cover designed to hold, protect, and lubricate the threaded valved inflation needle when not in use.