Abstract: A portable, hand-holdable, retractable cable lock includes a cable-carrying spool rotatably mounted within a casing. The cable extends through the casing and its free end may be locked to the casing to provide a theft deterrent. A coil spring within the casing applies a retracting force on the spool so that when the cable is unlocked and in an extended position the spring automatically rotates the spool to rewind the cable thereon. A ratchet mechanism permits free rotation of the spool in one direction to extend the cable, but prevents rotation of the spool in its other direction to rewind the cable unless disengaged.