A compact, portable strap winder includes a housing, a shaft having an outer reel section rotatable in the housing, a positioner for controlling movement of the shaft in the housing, whereby the reel section extends out of the housing for receiving a strap or the shaft is releasably stored in the housing. A handle is provided on the outer end of the shaft for rotating the shaft. The handle can be removed from the shaft and stored in a pocket in the housing.