A retractable cable assembly in use with an electrical charger, power adapter, or other power supply. A cable wound on a spool disposed within a housing may be extracted by manually pulling on the cable or pressing of a release switch until the desired length of the cable is drawn. As the cable is drawn an engaged locking mechanism is used to keep the cable in place during and after extraction of the cable until which time retraction of the cable is desired. A retraction actuator disengages the locking mechanism, thereby freeing the cable and immediately retracting the cable within the housing.