The present invention provides a retractable leash system which provides for walking one, two three or four pets with a single, handheld unit. In overall appearance, the device is a single unit composed of two roughly symmetrical halves, configured in an hourglass shape and formed in a tough and durable, injection-molded thermoplastic. The upper component is surmounted with an arcuate, ergonomically contoured and textured rubber handgrip or handle, and features a sliding control release and locking lever to be manipulated by the thumb to allow the leash or leashes to be unreeled or locked in place. A separate control-button operates a battery-powered light-emitting diode light, this light placed below the upper arc of the handle and oriented to shine toward the ground. The light provides either continual illumination or repeated flashing illumination, depending on the sequence with which the user presses the control button.