An ice fishing tip-up is described that is adapted to rest on a sheet of ice surrounding a fishing opening in the sheet of ice. The ice fishing device has at least three legs, a moveable spool post, a fishing line spool attached at or near the water end of the moveable spool post, and a signaling device comprising a switch operably connected to the fishing line spool. Each leg is attached at one end to a top cap. The moveable spool post has a first and a second position. The first position of the movable spool post the fishing line spool is positioned in the interior defined by the legs and at the second position of the movable spool post the fishing line spool extends past the legs. Pulling on the fishing line spool activates the switch to trigger the signaling device.
