The fishing reel has a body and a deceleration controller. The body has a magnetic spool and a side cover. The deceleration controller is mounted on the side cover and has a mounting tube, a moving shaft, a magnetic assembly and a switching button. The mounting tube is mounted through the side cover and has an inner thread. The moving shaft is movably mounted through the mounting tube and has an inside end, an outside end, an outer surface and a thread section. The thread section is formed in the outer surface of the moving shaft and screwed with the inner thread of the mounting tube. The magnetic assembly is securely mounted on the inside end of the moving shaft. The switching button is mounted securely on the outside end of the moving shaft to turn the moving shaft moveable inwardly or outwardly relative to the magnetic spool.
