Abstract: A device for use by fishermen to perform several functions including assisting in preparing a hook on a fishing line. The device includes a housing carrying a nipper for assisting in cutting a fishing line. A light is carried within the housing and directed toward the nipper for illuminating the fishing line when fishing in the dark. A threading device receptacle is provided for receiving a threading device, as well as a magnet receptacle for holding metallic objects such as a hook. Further, the nipper of the present invention is provided with means for securing the nipper to a selected object for easy location.