A multi-use disinfecting cap and method for disinfection and protection of a needleless IV injection port. The disinfecting cap has an upper chamber which contains a sterilizing solution and a low chamber which connects to a needleless IV injection port. The fluid can be manipulated to flow between the two chambers. When in use the cap protects and disinfects a needleless IV injection port when exposed prior to injecting medication into the needleless port and continues to disinfect and protect prior for any subsequent exposures. The cap is re-usable and provides a clear indication of the disinfecting solution and a datable top surface. The multi-use disinfecting cap may be removably clipped to the IV tubing and is shaped to prevent accidental rolling away if dropped.