A lanyard suspension system for a prosthetic limb that includes: (a) a lanyard cord adapted to extend from a distal end of a patient's residual limb; and (b) a lanyard lock assembly adapted to be seated at a distal end of a patient's prosthetic limb socket assembly. The lanyard lock assembly includes: (1) a lanyard lock base having a lanyard cord channel extending therethrough from an inlet hole in a proximal surface of the lanyard lock base to an outlet hole in one of a side surface and a distal surface of the lanyard lock base; and (2) a locking mechanism designed to allow the lanyard cord to substantially freely thread through the lanyard cord channel from the inlet hole to the outlet hole while substantially inhibiting the lanyard cord from threading in the opposite direction when in an active setting.
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