A luminescent fishing lure comprising a fake bait body, a lighting module, a light guiding rod and a cover. The lure body is provided with at least one fish hook, and forms an accommodating space, a mounting opening that communicates with the accommodating space, and a connecting sleeve that communicates with the accommodating space and has one end exposed outside the body of the squid. The module includes a battery component disposed in the accommodating space, a light-emitting diode electrically connected to the battery component and located in the accommodating space, and a light-transmitting glue covering the light-emitting diode. The light bar is disposed on the outer end of the adapter sleeve exposed to the body of the lure and receives light from the light emitting diode. In addition to the replacement of the light-emitting module, the light guide bar can be replaced according to the fishing condition or the damage caused by the fish attack.