An improved safety fishing lure includes a main body portion which is hollow. The front end of the main body portion is designed to be attached to a fishing line. The main body portion also has a groove in it for protecting the point of a hook. A hook is movably mounted in the main body portion for movement from a storage position, with the point in the groove, to an active fish catching mode with the point extended out of the groove beyond the main body portion. A holding mechanism including a spring is used to hold the hook in its storage position. A release mechanism is coupled with the holding mechanism for disengaging the holding mechanism in response to movement of the main body portion through the water to cause the hook to move to its active fish catching position.