A dual-bearing reel includes a first reel body, a second reel body, a spool, a brake mechanism, a regulating member, an operating lever and a nut member. The brake mechanism brakes rotation of the spool. The regulating member is attached to the first reel body. The regulating member regulates a braking force to be applied by the brake mechanism. The regulating member has a tubular shape. The regulating member includes a screw part and a flange part. The screw part is provided on the outer peripheral surface of the regulating member. The flange part extends outward from the outer peripheral surface in a radial direction. The operating lever is attached to the regulating member, and is disposed between the flange part and the first reel body. The nut member is disposed between the operating lever and the first reel body, and is screwed onto the screw part.
