A combination shift and brake lever arrangement for a bicycle, includes a single lever for performing a braking operation and a shifting operation in both directions. A braking arrangement mounts the single lever for movement in a first front to back pivoting direction to perform a braking operation, while a shifting arrangement mounts the single lever for movement in a second side to side pivoting direction different from the first pivoting direction. A shift control mechanism controls shifting of gears of the bicycle in a first shifting direction upon movement of the single lever in the second pivoting direction, while a reverse control changes over the shift control mechanism to control shifting of the gears of the bicycle in a second opposite shifting direction upon movement of the single lever in the same second pivoting direction.