A variable depth fishing lure preferably includes a hollow body, an adjustable bill, a spring pin, a spring retainer and at least one hook. The hollow body preferably includes a first body half and a second body half. At least two horizontal bill slots are formed on a front of the hollow body to receive the adjustable bill. The spring pin is pivotally engaged with the adjustable bill. The spring retainer is pivotally retained in the hollow body. The spring pin is inserted into the spring retainer and through a compression spring. The opposing end of the spring pin is terminated to retain the compression spring. A hooking device preferably includes a multi-position line eyelet, a hook line and at least one hook. The hook line extends from the multi-position line eyelet and at least one hook extends from an opposing end of the hook line.
