A line retrieve-release system is provided for mounting on the hull of a boat. First and second jaw mechanisms coupled to the hull face substantially forward and aft, respectively, relative to the boat's bow. Each jaw mechanism is capable of movement between a partially open position and a fully open position. First and second latches are coupled to the first and second jaw mechanisms, respectively. Each latch is biased to cooperate with its respective jaw mechanism in the partially open position thereof to thereby define a corresponding enclosed region. Each latch permits one-way entry to its associated enclosed region when a force is applied thereto from outside of the enclosed region. Each jaw mechanisms' partially open position defines a "ready-to-retrieve" and "line capture" position of the system, while each jaw mechanisms' fully open position defines a "line release" position of the system. Additional mechanism(s) are provide to (i) move each of the jaw mechanisms to their respective fully open position to thereby open the associated enclosed regions to facilitate the release of a captured line, and (ii) reset the retrieve-release system to its "ready-to-retrieve" and "line capture" position.