Abstract: A convertible athletic belt assembly includes a central pouch assembly having a plurality of support assemblies each securely attached along an oppositely disposed end of the central pouch assembly. The central pouch assembly includes a storage compartment and a closure mechanism to secure contents therein. An accessory pouch assembly is mounted to each support member via an inner cover member, and further includes an outer cover member disposable between an open and closed disposition. An accessory assembly is mounted inside each accessory pouch assembly and is retained therein while the corresponding outer cover member is in a closed disposition, however, the accessory assembly is deployed in an operable configuration when the outer cover member is in an open disposition. The accessory assembly may include a container holder configured to hold a bottle of water, energy drink, etc., a portable electronic device holder, a coin purse, etc.