Abstract: An extendible, self-retracting ladder particularly suitable for use with inflatable white water rafts and other watercraft. The ladder includes one or more rung assemblies which include tubular rungs supported by rope stiles. The rope stiles extend into the ends of the tubular rungs and are engaged with a tensioning mechanism that utilizes a pair of shock cords to apply continuous tension to the rope stiles. In the absence of weight on the ladder, the shock cord tensioning mechanisms retract the rope stiles into the tubular rungs and thereby raise the rungs into a compact retracted assembly. When a person's weight is applied to the rungs, the rope stiles are drawn out of the rungs and the rungs are extended downwardly into a conventional ladder configuration. The ladder can be stowed above the waterline when not in use, yet can be deployed and used by a person in the water without requiring any assistance from other persons aboard the watercraft.