A portable ice fishing shelter for providing an enclosed and expandable structure for ice fishing within. The ice fishing shelter generally includes a rigid primary enclosure having sidewalls, a roof, and a base to form a first interior space, wherein the base forms an inverted U-shaped raised center portion to accommodate a seat within and allow for smoother pulling below. The primary enclosure also has a side opening extending through at least one of the sidewalls for a rigid extendable enclosure. The extendable enclosure includes an open bottom and extends from a perimeter of the side opening and is movably connected thereto. The extendable enclosure is adapted to move between a retracted position during storage or transport and an extended position during use, wherein a second interior space is formed to accommodate one or more angling holes. A tow hitch and glide members may also extend from the primary enclosure.