An ice fishing signaling device having a tip-up flag and/or electric light bite indicator, and a hooked fish indicator that is controlled by tension in the fish line is provided to alert a fisherman of the occurrence of hooked fish and the relative size and/or strength of the hooked fish. The hooked fish indicator has a tubular housing with a telescoping indicator rod that is spring-biased within the housing to resist movement. A sustained tension on the fish line equal to or exceeding the bite indicator trigger level is required to withdraw the indicator rod from the housing for signaling the presence of a hooked fish. The indicator rod increases resistance as it is withdrawn for the housing, thus providing a visual indication of the size and/or strength of the hooked fish. The indicator rod may be electrically coupled to a light to provide continuous or blinking illumination only upon the presence of a hooked fish, and an optional air pump is provided for maintaining water circulation and preventing freeze-up of the ice fishing hole.
