A ankle and foot stabilization support apparatus and method that provide stability while the user's foot is in the neutral, dorsiflexed, and plantarflexed positions. In one embodiment, the invention comprises a support foundation and two adjustable lateral tension bands. One band extends from the support foundation to a location on an item of footwear that is proximate to the lateral heel counter and provides support in the neutral and dorsiflexed position. The second band extends from the support foundation to a location on the item of footwear proximate to the lateral quarter and provides support in the plantarflexed position. Another embodiment includes medial stabilization tension bands. The invention can be readily moved from footwear to footwear, may be integrated into an item of footwear, and may contain a combination of lateral and medial tension bands.