A hub cap for a roller skate wheel incorporates an LED illumination system. The illuminated hubcap is configured to slidably extend through apertures of a skate wheel and allow securement of the hub cap on the roller skate wheel. The hub cap may be formed of a rigid or semi-rigid material such as a plastic or the like. The LED illumination system includes a mount situated upon the planar surface of the hub cap so as to be essentially perpendicular with a skating surface when the hub cap is situated on the skate wheel. The hub cap body carries at least one LED so that light is emanated outward into the ambient area adjacent to the hub cap. Circuitry, including a battery and switch are carried on the inner surface of the hub cap body and controls the lighting of the LED (or LEDs). The LEDs may be white, a single color, multiple colors, or any combination thereof.