A collapsible detachable bicycle basket is constructed so as to be easily and readily mountable upon a luggage rack of a bicycle without the use of any threaded fasteners. To facilitate such mounting, the collapsible basket has a pair of spaced hooks attached to the top edge of one side of the basket and a resilient flexible connector in the form of a loop of bungee cord attached near the bottom of the same side of the basket. The hooks of the basket are receivable over a portion of the deck of the luggage rack and the loop of the bungee cord is attachable to a lower portion of the luggage rack to secure the basket to the luggage rack.