Abstract: The fishing leader holder of this invention consists of an outer cylindrical tube, an inner cylindrical tube rotatably mounted inside the outer tube, a longitudinal slot in each tube which can be mutually aligned, and a cylindrical inner securement part which can slide within the inner tube. The securement part has a radially extending projection which passes through the slots in the two tubes and, therefore, the securement part can slide longitudinally along the inner tube when the slots are mutually aligned. At one end of the slot in the outer tube, there is a short slot at right angles to the longitudinal slot so that when the securement part is at this one end of the slot, the inner tube can be rotated within the outer tube to both hold the securement part at one position and to cover the slot in the inner tube.