A locking mechanism for a tow bar having a leg with telescoping inner and outer members, the locking mechanism including a shuttle device secured to a proximal end of the inner member and having a peripheral groove spaced between a tapered forward end and a tapered rearward end thereof. The locking mechanism also including an aft latching device for locking the tow bar leg in a deployed configuration, and a fore latching device for locking the tow bar leg in a storage configuration. Each fore and aft latching device including a pair of latch elements pivotally and biasingly mounted in a pair of opposing slots of a housing, the slots being superimposed over corresponding openings through the outer member for cooperatively, simultaneously and lockingly interacting with the peripheral groove of the shuttle device.