Abstract: The improved light generating and emitting roller skate wheel assembly of the present invention includes a wheel axle assembly carried by and beneath the roller skate blade. Such wheel axle assembly includes wheel bearings which are disposed thereon. A wheel hub is mounted on the wheel axle assembly and supported by the wheel bearings for rotational movement relative thereto. A tire, preferably made of a clear polymer is disposed about the wheel hub assembly. The roller skate wheel carries a light emitting mechanism, such as a light emitting diode, for emitting visible light preferably through the clear, polyurethane elastomer tires, as used in certain preferred embodiments. The roller skate wheel carries an electrical light generator which is electrically connected to the light emitting diode or other light emitting mechanism for providing electric energy and for generating light therefrom. The details of these structures are described in greater detail hereinbelow.