A shoelace management and retainment device for temporarily retaining the loop and free ends of a shoelace bow formed on a shoe when tied. An open ended cylindrical sleeve of yieldable material is attached to portions of the shoelace extending through the eyelets of the shoe. An insertion opening is formed along the longitudinal length of the device into which the bow portion and shoelace ends of the shoelace is inserted translaterally so as to be positioned therewithin and extend partially out through corresponding respective distal end thereof.