Fly fishing reel comprising a housing (2, 102, 202), driving means (3, 103, 203), a gearing (4, 104, 204), mechanically connected to the driving means (3, 103, 203), a spool (5, 105, 205) connected mechanically and rigidly to the gearing (4, 104, 204), with said gearing (4, 104, 204) and spool (5, 105, 205) forming a rigid kinematic unit (12, 112, 212), and a brake (8, 108, 208). The reel comprises a one-way clutch (7, 107, 207) between driving means (3, 103, 203) and gearing (4, 104, 204). Brake (8, 108, 208) comprises a free wheel mechanism (9, 109, 209) and acts upon rigid kinematic unit (12, 112, 212), and the force can be regulated continuously. In the line feed-out direction (6, 106, 206), one-way clutch (7, 107, 207) is inactive and free wheel mechanism (9, 109, 209) is active, whereas in the wind up direction of line (6, 106, 206), one-way clutch (7, 107) is active (4, 104, 204) and free wheel mechanism (9, 109, 209) is inactive.