Abstract: A fishing lure tracking system includes a sending unit which sends a coded acoustic signal to a hydrophone attached to a fishing vessel to provide a signal correlating to the depth of the sending unit in a body of water. The sending unit is arranged on a fishing line adjacent to the bait or lure at the end thereof. The acoustic signal is processed by a signal processor connected with the hydrophone to produce an output signal for a display to indicate the depth of the unit. With the tracking system, a fisherman can position the lure or bait at the same depth as a school of fish.