An automatic retractable lancet assembly includes a housing with a sharp-pointed lancet movably mounted therein. A slidable plunger is mounted in the housing in the end thereof opposite from the lancet for loading the assembly prior to use. An actuating mechanism releases the lancet for outward movement from the housing. After this outward movement is completed, the actuator elements become dissociated from further movement of the lancet. Subsequently, the lancet is automatically retracted back inside the housing by virtue of a spring element.