A locking paddle handle assembly for closures has a housing with a paddle handle pivotally mounted therein, a latch which latches and unlatches the closure upon rotation of the paddle handle, and a exterior key lock with a movable member that shifts between locked and unlocked positions. A latch lock selectively engages the latch, such that when the movable key lock member is in the locked position, the latch is retained in the latched position, wherein the closure cannot be opened. A deadbolt lock selectively engages the closure frame in the locked position to positively retain the closure closed. Both the latch lock and the deadbolt lock are operably connected with the movable key lock member, such that movement of the latter between the latched and unlatched positions contemporaneously shifts both the latch lock and the deadbolt lock between the locked and unlocked positions.