A lockable steering mechanism for a children's ride-on vehicle is provided. The steering mechanism has a steering shaft coupled to a steering link that is coupled to the vehicle's front wheels. A steering wheel is axially fixed to the steering shaft. A lifter guide is rotationally and axially fixed to the steering shaft, and a lifter is rotationally fixed to and axially moveable about the lifter guide. A rotatable locking ring rotates from a first position to a second position. The lifter engages the steering wheel when the locking ring is in the first position to rotationally fix the steering wheel to the steering shaft. The lifter is rotationally decoupled from the steering wheel when the locking ring is in a second position to rotationally decouple the steering wheel from the steering shaft.