Abstract: A fishing bobber and bait guard assembly including a lightweight, hollow, generally cylindrical float with a rounded nose and a disc closure plate. The bait guard portion is generally cylindrical with one end removably mounted on the disc closure and the other end open for insertion of the bait. The disc closure may have lugs disposed for locking engagement with a radially inner flange on the forward end of the bait guard. The bait guard is of a resilient material for compression between the lugs and a surface of the disc closure. The resilience also serves to withstand impacts and deformation in use without damage to the guard. Counterweighted portions of the float and guard maintain the unit in balance during casting. The float has a diameter and length suitable for nesting in the bait guard portion so that the assembly may be stored in a minimum of space in a tackle box.