A retractable bungee cord tie down having a housing enclosing a ratcheting mechanism and a bungee cord. The bungee cord is wrapped around a spool having a biasing member operatively coupled thereto to permit automatic retraction of the bungee cord into the housing. Operatively coupled to the spool is a control arm that is used to engage and disengage spool movement and thus movement of the bungee cord into or out of the housing. A button connected to the control arm permits a user to secure items by securing the bungee cord first and then operating or moving the housing to another secure location.