A bicycle and bicycle parking and lock system wherein a hub locking device that is secured to a bicycle cooperates with a parking rack. The bicycle includes an engagement member that is secured to an axle of the bicycle. The engagement member selectively removably cooperates with a recess formed in the parking and lock system. The parking and lock system includes a number of upstanding members that are positioned to generally flank the front wheel of a bicycle to maintain the bicycle in a generally upright orientation. Each or select number of the upstanding members include a lock system that cooperates with the locking engagement member so as to secure the respective bicycle with respect to the parking system.