Abstract: A sealing assembly for a rotary drive shaft that extends through the hull of a boat, the outboard end of the shaft being coupled to a propeller and the inboard end to a marine engine for rotating the propeller. The assembly includes a cylindrical housing joined by a flexible hose to a tube in the stern of the boat through which the shaft passes. Received within the housing is an annular bearing whose bore diameter depends on the size of the shaft whereby the bearing installed in the housing has an internal diameter appropriate to the size of the shaft being sealed by the assembly. Coupled to one end of the housing is an annular cap having an elastomeric lip seal therein that frictionally engages the shaft to prevent sea water from leaking into the boat. A reservoir defined by an annular space within the housing between the lip seal and the bearing is continuously fed with water to cool and lubricate the lip seal.