A system and method for cutting soft tissue with a retractable surgical cutting device. The device includes a handle having a first channel extending therethrough and a switch located thereon. The switch is movable between a retracted position and an extended position. An actuator with a blade extends through the first channel and connects to the switch within the handle. An outer sheath is connected to the handle and surrounds the actuator and at least a portion of the blade. A drive mechanism is connected to the switch within the handle such that when the switch moves from the retracted position to the extended position, the actuator moves from a retracted position to an extended position. In the retracted position, the blade can be entirely within the outer sheath and in the extended position, at least a portion of the blade is positioned outside of the outer sheath.