A bicycle locking system for mounting in a bicycle including an axle which is rotatable around its longitudinal axis, a first locking element and a second locking element, which are configured for locking engagement with each other, where the first locking element is fixed to the axle and each of the first and second locking elements comprise an engagement surface. The locking system also includes a biasing device and an actuation element, the biasing device configured to exert a force on the second locking element in the longitudinal direction, so as to displace the first and second locking elements in relation to each other, where the biasing device is a magnetic biasing device, and the actuation element acts to switch the locking system between a state where the biasing device magnetically repels the second locking element and a state where the biasing device magnetically attracts the second locking element.