An ice fishing hole cover device, an associated kit and an associated method of using the kit for assembling the device for use in minimizing ice formation over an existing open ice fishing hole and for use in convenient rapid disassembly of device is disclosed. The device includes the slidably interconnected elements of a pair of upper panels, a plurality of quick release locks, a pair of end panels, and a pair of side panels. The kit includes the un-interconnected elements of the device. The method includes the steps of abutting, affixing, attaching, coupling, dropping, hoisting, inserting, letting, lighting, lowering, mounting, obtaining, placing, positioning, pushing, reeling, removing, sliding, stacking, stringing, uncoupling, and wrapping.