The present invention discloses a device for measuring and dispensing a prescribed amount of liquid. The advantage of the present device is that a simple squeezing action not only reliably and precisely stores a prescribed volume of liquid (e.g., a liquid cooking ingredient, beverage (such as wine or liquor) but then subsequently upon an additional squeeze, discharges the stored liquid while refilling the dose chamber with another dose of the prescribed volume to be later discharged upon the next squeezing action. This eliminates the time consuming tasks of having to measure liquids with conventional measuring cups and the like and instead, the user simple initially adds liquid to the container and then places the cover and measuring and dispensing mechanism on top of the container prior to performed successive squeezing for loading and discharging the dose volume.