A tool and a method for the rapid and easy exchange of fishing line of a fishing reel includes a spool having two flanges. A first flange of the spool is preferably detachable for easy and efficient removal of used or damaged line from the spool. The tool further includes the ability to be used with a manual means for turning the spool. The manual version can be operated using brace and bit. In the preferred embodiment a motor is provided for driving the reel for rapid uptake and storage of a fishing line, the driving means preferably includes pair of spaced apart openings located on one of the flanges of the spool and the openings are preferably aligned to receive first and second handle portions of a handle of the fishing reel. A storage rack holds several exchangeable spools for different varieties (i.e., weight, color or length) of usable fishing lines. A method of using the exchanger and the storage rack is also described in detail.
