A traffic safety cone incorporating a flashing light module includes electrically coupled first and second modules. The first module includes a solar cell array positioned atop an upper surface of a circular mounting member, a resilient, impact cushioning bumper that surrounds the mounting member, and a high-intensity LED flasher unit having a cylindrical base. The circular disk is secured to the top of the flasher unit, and the cylindrical base fits into the top of a traffic cone that has been truncated for a precise fit. The second module includes a truncated cone-shaped housing, electrical batteries installed within the housing, battery charging circuitry and an ON/OFF switch. The second module and a module retainer plate, which also functions as a battery cover, are installed in that order in the bottom of the traffic safety cone and are secured to the first module with threaded securing rods.