A buoyancy powered device for raising or assisting in raising anchors from the bottom of a body of water. The device is remotely inflated through a hose that is preferably placed inside a protective outer shell. The rope attached to the anchor is also preferably placed inside the shell, but is not attached to the hose so that the hose is not required to bear any of the weight of the anchor or to keep the watercraft secured to the anchor. At various locations along the line are provided loops or other attachment devices that can be used to attach the rope to the boat at various lengths as desired. Preferably, when deflated, the float can be temporarily secured in a compact rolled-up or folded configuration near the anchor line, by a securement system that allows the float to come unrolled or unfolded during inflation of the float.