An ankle stabilizing device is designed for use on an ankle and foot of a wearer. The ankle stabilizing device includes an above-the-foot flexible body member designed to substantially encircle the ankle. The body member has an open upper end adapted for extending to a point above the ankle. An elongated, flexible, non-stretch ankle belt is secured to the body member proximate its upper end, and is adapted for extending circumferentially around a lower leg of the wearer. At least one elongated flexible stabilizing strap has a proximal end affixed to the body member, and an opposing free end adapted for extending under the foot and releasably attaching to the body member.