Abstract: A propeller assembly which includes a barrel with replaceable blade assemblies secured within slots formed in the exterior of the barrel. The slots include a first slot section and a second slot section with the first slot section extending radially deeper than the second slot section. The blade assemblies include L-shaped locking members which slide within the slots formed within the barrel. The shorter leg of the locking members are secured within the deeper first slot sections while the longer leg extends longitudinally within the second slot section. The locking member preferably includes a dovetail cross-section member fixing the shorter leg member to the barrel so as to prevent both longitudinal, torsional and radial movement of the blade assemblies. The barrel is preferably formed of an aluminum material or, more precisely, an aluminum alloy having 60% to 95% essentially pure aluminum while the blade assemblies and securement members are formed of stainless steel.