A system and method for securing a vinyl pool stair liner to a set of pool stairs. The system includes a locking component that is secured to the stairs and a locking rod that is selectively engageable in a channel in the upper end of the locking component. The locking rod secures a flap of vinyl extending outwardly from an exterior surface of the stair liner into the channel and thereby secures the stair liner to the pool stairs. An installation tool is used to push the locking rod into the channel of the locking component. The locking rod is removable from the locking component to release the stair liner if it is determined that the liner should be replaced at a later date.