Abstract: Ice fishing rig comprising an elongated, hollow, waterproof tube which carries a reel at one end, a resilient bar pivoted thereto and movable between a folded position parallel to the tube and an unfolded position transverse thereto. The bar when unfolded rests on the ice on either side of a fishing hole and suspends the rig with the reel submerged. When folded its lies parallel to the tube and engages portions of the reel. The upper end of the tube is transparent and encloses a fluorescent signal visible through 360.degree. and covered by a removable shield. A rod is pivotally mounted within the tube and the upper end engages the shield. The lower end is pivoted by rotation of the reel to release the shield thereby exposing the signal to view from a distance.