A ratchet buckle for tightening and tensioning straps includes a bifurcated frame member having a pair of oppositely positioned parallel arms between which a reel member and ratchet wheels are rotatably mounted. A strap to be tensioned is reeved through the reel member. A bifurcated lever member, having a pair of oppositely positioned parallel arms, is rotated on the reel and has a ratchet drive plate which engages the teeth of the ratchet wheel such that when the lever is actuated the reel is rotatably driven. A portion of the load on the frame is transferred to the lever when the buckle is in its closed position, thereby substantially increasing the strength-to-weight ratio of the device by providing tab members and notches which matingly engage each other with the handle in its tensioned or closed position, one of these two engaging members being on the arms of the lever and the other of these members being on the frame.