In this paper we prove that the Poincaré map associated to a Lorenz-like flow has exponential decay of correlations with respect to Lipschitz observables. This implies that the hitting time associated to the flow satisfies a logarithm law. The hitting time τr(x,x0) is the time needed for the orbit of a point x to enter a ball Br(x0) centered at x0, with small radius r, for the first time. As the radius of the ball decreases to 0 its asymptotic behavior is a power law whose exponent is related to the local dimension of the physical measure at x0: for each x0 such that the local dimension dμ (x0) exists, holds for μ almost each x. In a similar way, it is possible to consider a quantitative recurrence indicator quantifying the speed of an orbit to come back to its starting point. Similar results hold for this recurrence indicator.