Abstract: A variable pitch propeller assembly includes a hollow casing which, at its inner surface, fits securely around the propeller shaft. The outer surface of the casing forms the general shape of a cylinder which is coaxially located with respect to the propeller shaft's axis of rotation. A hollow collar is disposed around the outer surface of at least a portion of the casing and is further configured for movement with respect to the casing along the casing's longitudinal axis. A plurality of propeller blades are arranged around the outer circumference of the casing, and are connected to the casing so that the pitch of each blade with respect to the axis of rotation of the propeller shaft is varied by rotation of the blade about an axis which extends generally perpendicularly from the outer surface of the casing.