The lifesaver backpack includes an inflatable life raft folded into a pack. A plurality of straps is attached to the pack for securing the pack onto a user's back. The pack is inflated by a gas canister attached to the pack and selectively operable by a pull cord. Upon inflation of the pack, the pack transforms into the life raft that surrounds the user. A canopy stretches across the stern of the life raft to provide shade and protection against the elements. The lifesaver backpack can be provided with paddles and hoops on the sides of the life raft for rowing. An embodiment for submarine emergencies is also provided.