Abstract: A system for tracking underwater equipment is disclosed which includes a buoy and an underwater animal trap connected to the buoy. A position sensing unit is mounted to the buoy, wherein the position sensing unit includes a satellite signal receiver which computes location data in response to receiving signals from multiple satellites, and a transmitter which transmits the location data. A tracking device can be used to display the location data received from the position sensing unit, allowing the position of the buoy and associated underwater animal trap to be tracked. A method of tracking an underwater animal trap is disclosed which includes coupling a position sensing unit to a buoy, and tracking the location of the buoy with a tracking unit. The buoy is coupled to an underwater animal trap, and the position sensing unit computes buoy location data in response to receiving signals from multiple satellites.