The present invention is a new and distinct floricane fruiting red raspberry cultivar named ‘Pearl’, which is capable of producing large quantities of commercial size and quality fruit in subtropical or warm temperate areas which experience little winter chilling. The cultivar is characterized by high bud break and vigorous flower truss growth from floricanes on low chilled plants which bear fruit early in the season. ‘Pearl’ fruit is light colored, truncated conic, firm, easily seen and picked and uniform making it suitable for commercial shipping. The plant has a tendency toward trifoliolate (vs. pentafoliolate) leaves, dark red, somewhat innocuous thorns, and relatively smooth and simple leaf margins.