A locking system utilizing a padlock guard which is designed specifically for use with a padlock of the type disclosed in U. S. Pat. No. 3,769,821. The lock has a flat-faced cylindrical housing and an internal key cylinder-operatable bolt which can be selectively protracted through and retracted from a hasp staple or the like inserted into a channel in the housing which intersects the path of movement of the bolt. The guard consists of a substantially cylindrical frontally open shell which has an inner diameter just slightly greater than the outer diameter of the lock housing and in one embodiment is welded to a hasp or the like in surrounding relation to the staple-accommodating slot therein. In another embodiment, the guard is welded to, and around the staple-accommodating slot in, the front side wall of a guide track rail for a sliding gate. In use, the lock is slid axially into and out of the guard, the latter being circumferentially interrupted to a limited extent at one part thereof corresponding to the location of and to provide access to the key cylinder of the padlock.