Abstract: A collapsible arrow having an outer shaft. An inner shaft is preferably in slidable contact with the outer shaft in order to aid longitudinal stability. In order to be shot with a bow, the inner shaft can be extended from the outer shaft; to be stored, the inner shaft can be retracted into the outer shaft. A locking mechanism having minimal aerodynamic impact holds the inner shaft in its maximum extend position for shooting and flight. Preferably, traditional aerodynamic stabilizers are located on the outer surface of the aft section of the inner shaft.