An ultra-high efficiency underwater light for attracting marine life having radially arranged facets supporting light emitting diodes (LEDs) that project a large perimeter of light underwater. A water cooling system allows the high powered LEDs to operate at sustained peak levels without sacrificing service life. A light bifurcating structure causes a central portion of water to illuminate in a different color than the color of the outer perimeter portion of water. A tire valve stem located on the underwater light is used to remove moisture bearing air and to also pressurize the light with a non-corrosive gas. Antifouling circuitry automatically cycles the underwater light on and off multiple times during periods of non-use. Smart circuitry communicates through a series of blinks and accepts commands from a user through a power cord.