Abstract: A retractable exercise rack system for efficiently securing an exercise rack against or near a wall when the exercise rack is not in use. The retractable exercise rack system may thus be adjustable between a retracted position against or near the wall, and an extended position which is distally-positioned with respect to the wall. The retractable exercise rack system generally includes a first support member a second support member, with an exercise bar connected between the support members. Wall mounts may be secured to the wall, with the first and second support members being adjustably connected to the wall mounts by linkages, scissor connectors, or arms. Latches and strikers may be utilized to releasably lock the support members in the extended and/or retracted positions. One or both of the support members may include a button for releasing the latches from the strikers.