The present invention relates to a two-speed fishing reel which allows the choice of a higher or lower speed when reeling in or pulling out the fishing line, while keeping constant the rotation speed of the handle driving the reel operation.That is possible because the fishing reel features two kinematic chains, which, by means of a knob, allow choosing one or the other, and due to the diameter and number of cogs of each one of the gears of these kinematic chains, the rotation speed of the rotor increases or decreases, at the same rotation speed of the handle.