An adjustable depth fishing lure including a lip and a lure body is provided. The lip is partially received in a slot of the lure body and is movable to predetermined positions relative to the lure body. The lip may include an eyelet. The lip includes a locking member and the lure body includes a plurality of teeth. The locking member is configured to engage at least one of the teeth to fix the lip relative to the lure body at one of the predetermined positions. This engagement between the locking member and the teeth provides a rigid connection that resists loading applied to the lip by the fisherman pulling on the fishing line and/or a fish biting a hook connected to the lure body.
