A scent releasing fishing lure for use in releasing a fish attractant while being reeled through a water stream includes a lure body having a continuous outer wall having a front end and a rear end opposed to the front end and defining an interior area. The front end defines an inlet and the rear end defines an outlet configured to receive and release a water stream, respectively. A water channel is situated in the interior area and connects the inlet and outlet, the water channel being configured to transfer water from the inlet to the outlet. A scent compartment is positioned in the interior area of the lure body and configured to selectively retain the fish attractant, the scent compartment defining an opening in fluid communication with the water channel such that the fish attractant is released into the water stream.