A powered latch with manual release includes a forkbolt, a detent lever, and a powered actuator. The forkbolt is pivotable about a first axis to latch and unlatch a striker. The detent lever is pivotable about a second axis and engageable with the forkbolt to secure the forkbolt in the latched position. A power cinching lever is rotatable by the powered actuator to cinch the forkbolt to the latched position. A power release lever is rotatable by the powered actuator to release the detent lever from the forkbolt. A manual release lever is supported for rotation about a third axis and operable by a single manual rotation from outside the powered latch, without operation of the powered actuator, to both: interrupt a power transmission path between the powered actuator and the power cinching lever, and drive the detent lever to release the forkbolt.