An over center draw latch with lock bolt action which performs the functions of both a bolt type latch and a draw type latch. The latch comprises a housing mounted on one panel, a lever rotatably mounted on the housing, a spring rotatably mounted on the lever and a keeper mounted on another panel. When the latch is fastened, the spring engages the keeper to thereby draw the panels together. In addition, a portion of the lever engages the keeper to provide a lock bolt action. In the closed position, the latch prevents relative movement of the panels in all directions.