A compact waterproof lighting assembly includes a circuit board having a battery, a light, a switching circuit and a push button switch selectively powering the light with the battery via the switching circuit. The waterproof lighting assembly can be coupled to fishing tackle to attract fish to a fish bait. The light can be provided by a light emitting diode emitting light in any one of a number of colors or emitting ultraviolet or infrared light. The use of light emitting diodes emitting light in the ultraviolet spectrum had been found to be particularly useful for attracting fish to fish bait and birds to decoys.