Abstract: A keel hoist assembly for use in raising and lowering the keel of a retractable keel sailboat and including a winch unit and a generally tubular retractable support tube. The winch unit is removably mountable to a top end of the retractable support member which, in turn, fits within a tubular receiving column provided to the sailboat and extending between the bottom of the boat hull and the deck. The retractable support member is adapted for telescoping movement within the tubular receiving column and is movable between a first retracted position within the tubular receiving column and a second extended position wherein the support member is disposed extended upwardly at a distance above the top deck. locking pin members are provided to lock the support tube in the retracted and extended positions. When not in use, the winch unit is removed from the retractable support tube and stowed below deck and the retractable support member is moved to its retracted position and locked in place.