Abstract: The invention is embodied in an arrow tip for use in bowfishing. The tip is comprised of a tip body having a bore in one end designed to receive the shaft of an arrow. The arrow is attached to the tip with a fixed non-rotative connection. The body has a threaded end opposite the bore, and a replaceable point is rotatably attached to the threaded end. A pivotable retainer or blade is held in a slot formed in the body, and the replaceable point is used to hold the blade in a plurality of positions, one being a fish retention position, and another being an arrow removal position.