A releasable vest having a front panel; front shoulder strap elements that include at least one front shoulder strap attachment opening; a back panel; a first waist belt element that extends from the front panel and has at least one waist belt element attachment opening formed through the waist belt element; a second waist belt element that extends from the front panel and has at least one release loop attached thereto, wherein the at least one release loop is capable of being passed through the waist belt attachment opening of the first waist belt element and the at least one front shoulder strap attachment opening of the front shoulder strap elements; and a release lanyard that is capable of being passed through the release loop so as to releasably secure the first waist belt element and the at least one shoulder strap element to the release loop.