Abstract: The panel lock comprises an elongated housing having resilient wedging means at each end to secure the panel lock in place in a recess in a door, panel or like member. Formed integrally with the elongated housing are a lock housing with a cylindrical opening, a central recessed portion, and a bolt housing. A lock is rotatably secured in the opening in the lock housing. A bolt is slidably positioned in the bolt housing. A spring is operative between the bolt and the bolt housing to bias the bolt outwardly from the bolt housing into locking position. An actuator is slidably secured to the elongated housing and is adapted to engage the bolt. When the actuator is moved in one direction, the bolt is biased outwardly to a latching position by the spring. Movement of the actuator in an opposite direction will move the bolt against the bias of the spring to a release position. Cam means are secured to the lock and are rotatable therewith to lock or to release the actuator.