A fishing rod with elastic sling bait launcher utilizes potential energy stored in a pre-tensioned elastic cord to propel a fishing lure or bait attached to one end of a fishing line forward from the rod tip without requiring casting motion of the rod, the other end of the line unwinding from a reel attached to said handle. The sling launcher includes a U-shaped yoke which is secured to the rod shaft at adjustable distances forward of the handle and reel. The elastic sling has an elastic member consisting of an elongated length of elastic cord or a tension spring attached at opposite ends thereof to upper ends of a pair of laterally opposed, upwardly protruding yoke arms. A generally flat, horizontally disposed bait launcher plate attached to the center of the elastic member is pulled rearward to tension parallel segments of the elastic member, and is engaged with a pivotable bait launching mechanism by an anchor pin protruding upwards from a forward end of an anchor bar secured to the rod handle, which protrudes upwardly through apertures provided through a base plate of the bait launching mechanism, and a bait launcher tray support on top of the bait launcher base plate, and through an anchor hole through the bait launcher plate. A bait and attached line are pulled rearwards from the tip of the rod shaft towards the bait launcher plate, thus pulling line from a reel located on the underside of the rod handle, and through a plurality of line guide eyes located on the underside of the rod shaft. A bait hook is positioned in a groove provided in a front edge wall of the bait launcher plate, with the bait and attached line arranged in a rearwardly directed half loop on the upper surface of the bait launcher support tray. A rearwardly protruding trigger plate of the pivotable bait launcher mechanism rocker arm is depressed by a fisherman's thumb to launch a bait, thus pushing the bait launcher plate upwardly off an engagement with the anchor pin and thereby enabling tension in the sling to propel the bait and attached line forward.