The releasable torque device obviates the need for removal of the wire introducer in order to torque or manipulate a vascular or other guide wire and/or catheter in a medical procedure, and further obviates the need to remove the torque device for wire and/or catheter introduction. The device may include a base cylinder and an inflation cylinder defining a variable fluid volume therebetween. As the inflation cylinder is pushed toward the base cylinder, the fluid is forced through a port in the inner wall of the inflation cylinder and between a tubular inner cylinder and an inflatable guide wire grip within the inner cylinder to squeeze the grip onto the guide wire passing axially therethrough. Alternatively, the device only has a central tube and an inflatable guide wire grip therein, using a remotely disposed fluid pump and reservoir supplying fluid to the tube and guide wire grip.