A toggle link compound bow includes an elongate riser with limbs pivotally mounted at the ends thereof. The free ends of the limbs are adapted to be connected by a bowstring. A toggle link assembly is connected to an energy storage device and is also coupled to the bow limbs so that as a bowstring connecting the free ends of the limbs is moved to a drawn position, the limbs rotate about their pivot connections and the toggle link assembly moves to cause energy to be stored in the energy storage device. In the illustrated embodiment, the toggle link assembly is connected through separate connecting rods to each of the bow limbs. This allows the energy storage device to be located as desired with respect to the riser to adjust the balance of the bow. The extent of movement of the toggle link assembly in response to movement of the bowstring and limbs is preferably adjustable to easily adjust the draw length of the bow. In a preferred embodiment, an adjusting link is provided in the toggle link assembly to provide the draw length adjustment. The energy storage device may be a spring made up of a plurality of disc springs or Belville washers arranged in face-to-face configuration. The properties of this energy storage device can also be easily adjusted.