A pair of shoes is provided having retractable motorized wheels. Each of the shoes has an upper, a sole, and first and second wheels mounted on the sole and movable from a retracted to an extended position. When the wheels are in an extended position, at least one wheel of one of the shoes engages a battery-powered, DC motor mounted on the shoe. The motor is controlled by a hand-held throttle. A latching mechanism engages to secure the wheels in the desired position. The shoes may be used for skating, with and without power assistance, with the wheels in an extended position, and may be used for walking, with the wheels in a retracted position.