A fishing lure having a material that is magnetically attracted to a magnet slid down a fishing line connected to the lure. A movable hook shaft housed within the lure is spring loaded to a position where a free end thereof is captured within the lure and a hook attached to the hook shaft cannot be removed from the free end. When the magnet is slid down the fishing line and magnetically influences the magnetic material, the hook shaft is moved to a position where the free end thereof is exposed and the hook can be removed therefrom.