A concealed hook fish lure is disclosed. In one embodiment, a lure body contains an interior body cavity wherein is placed a hook that is pivotally mounted on a connecting rod. In a first position, the hook is concealed within the lure body and held in place by a first magnet up to the moment of the strike. At the moment of the strike, the fish presses a shaft portion of the concealed hook, which causes the hook to pivot on the connecting rod, thereby moving the hook to a second position where the hook extends outside the body cavity. The pivot movement of the hook from concealed position to deployed position is urged by a second magnet, which second magnet holds the hook in the deployed position, thereby facilitating the setting of the hook in the fish's mouth. The lure is useful in waters containing weeds and other debris, and provides improvements with respect to a simple mechanism for concealing and deploying the hook. The hook may also be readily retracted to and cocked in its concealed position following a strike.