A releasable self-centering keyless bushing assembly connects two machine elements, such as a hub to a shaft. The assembly includes an outer ring having two tapered inner peripheral surfaces, wherein each of the tapered surfaces has a different taper angle, and an inner cone having two tapered outer peripheral surfaces that have identical taper angles to the tapered peripheral surfaces of the outer ring. The outer ring and the inner cone are drawn together by screws that expand and contract the assembly to connect the hub to the shaft.