An adjustable cable guard for archery bows includes a guard holder and a cable guard held by the guard holder to engage a cable of the bow to maintain the cable a predetermined distance from a drawstring of the bow. The guard holder includes a body having a clamping groove having a length axis and a bifurcating slit that extends from the clamping groove into the body of the holder, and the cable includes a tongue located to be matingly and slidingly received by the clamping groove. The position of the tongue within the clamping groove may be locked against movement by compressing the slit to bear surfaces of the clamping groove against surfaces of the tongue.