Abstract: An ice fishing apparatus includes a collapsible container having a base having an opening therein, a lid which is pivotally mounted to the base, and a flexible body member peripherally connected to the base and the lid and disposed therebetween so as to provide a complete enclosure of the area between the base and lid when the lid is in its open position. The flexible body is preferably made of the heat reflected material so as to cause the heat generated by a combined heat and light source contained within the container to prevent ice build-up on the fishing line and in the fishing hole. The container has signaling structure which, when triggered, causes the light contained within the container to be emitted outside the container. The flexible body of the container collapses when the lid is closed thereby providing an easily transportable compact case for the ice fishing apparatus.