An inflatable tube ski vehicle with steering mechanism comprises an inflated, torus-shaped tube or bladder and a ski insert disposed in the central opening of the bladder. The ski insert may be dish-shaped, or it may partially wrap around the top and/or bottom of the bladder. In either case, the ski vehicle has a steering/braking mechanism comprising left and right lever arms pivotally attached to and extending down through the ski insert. To turn, a rider simply pulls on one of the lever arms, causing a lower portion of the lever arm to extend past a bottom of the insert. To brake, both arms are pulled simultaneously. Because the ski vehicle is round and because the weight of the vehicle and rider are largely uniformly distributed over the center of the vehicle, a pivot or fulcrum point occurs directly under the rider's seat, affording a significant degree of control.