A floating fish snaring device includes a housing formed of a buoyant, but lightweight material. Coaxially received within the housing and extending a predetermined distance from the lower end thereof is an elongated hollow tube. Longitudinally received within the tube is an elongated fish snaring member including a float at a lower end and a cap member at an upper end. Upper and lower annular stop members are fixedly positioned within the tube. A fishing line with an attached hook is secured to an eyelet on the float. When a fish strikes the bait and drags the fish snaring member downwardly, the cap member engages the upper stop member resulting in significant recoil of the fishing line thereby firmly setting the hook in the fish's mouth.