All perfect praise be to Allaah, The Lord of the Worlds. I testify that there is none worthy of worship except Allaah, and that Muhammad is His slave and Messenger.
The word 'Thohaib' is a short form of the word 'Thahab'. Hence, we are not aware of any religious prohibition which prevents from being named with this name.
For more benefit on general rules of naming children, please refer to Fataawa 82724 and 87262.