A variable speed motor driven fishing reel is powered by a brushless DC motor and adapted for remote control operation by adapting a salt water bait-casting reel with a motorized drive assembly including an end plate having an environmentally sealed cover removably connected thereto, and mounted on the opposite side of the reel from the manual crank, the drive assembly including a brushless DC out-runner motor having an output shaft connected to a planetary gear system configured to power rotation of the fishing reel spool axel for driving the spool. A power cable provides 12.0 volt DC power from a suitable on-board vessel power source. An electronic motor control system allows for variation of DC motor speed via a manually actuated speed control knob. A remote control device is adapted for wireless communication with the electronic motor control system to allow for remote activation of the DC motor in low and high speed modes.