A mechanical pencil is disclosed in which lead feed occurs automatically upon lifting of the pencil from the paper surface or the like and in which the slider can be locked in a retreated position when the pencil is not in us. The mechanical pencil includes a tip member fitted in the front end of a shell removably, a sleeve disposed slidably in the interior of the tip member, a lead feed mechanism which is mounted in the interior of the sleeve and which permits a forward movement of a lead but inhibits a backward movement of the lead, an ejection bar mounted on the front end side of the sleeve, with the lead extending through the ejection bar, a slider disposed slidably within the tip member and having a locking engaging portion capable of engaging the tip member disengageably, the slider imparting a predetermined frictional force to the lead, and a resilient member disposed between the slider and the ejection bar, the resilient member having an urging force stronger than a lead gripping force of the lead feed mechanism under.