Abstract: A cable reel handling and transporting trailer including a wheeled frame having a forwardly extending hitch provided on the forward end thereof. The wheeled frame includes a pair of laterally spaced-apart and longitudinally extending side frames having a wheel rotatably mounted thereon. A hydraulically operated leveling arm is pivotally mounted on each of the side frames and is adapted to engage a spindle reel assembly extended through a cable reel to roll the spindle reel assembly forwardly on the leveling arms. When the spindle reel assembly has reached the forward end of the leveling arms, a pair of hydraulic cylinders are actuated which engage the opposite ends of the spindle reel assembly so that the spindle reel assembly and the cable reel are moved upwardly on a forwardly extending guide rail into a lock/transport/rotating position. A hydraulic motor is operatively connected to one end of the spindle reel assembly for laying and retrieving the cable on the cable reel.