A folding knife with opening and closing assistance preferably includes a blade, a first frame, a second frame, a coil spring, an open lock pin and a closed lock pin. One end of the blade is pivotally retained between one end of the first and second frames. The open lock pin is preferably retained in the second frame. An open lock notch is formed in a first end of the blade such that the blade may be locked in an open position with the open lock pin. The closed lock pin is radially spring loaded between the first and second frames. A closed lock notch is formed in the first end of the blade to receive the closed lock pin. The blade is locked in a closed position, when the closed lock pin is retained in the closed lock notch.