In the marine V-drive or similar drive system, a novel gearing is employed which provides a bend or turn of power transmission path toward a rearwardly and downwardly inclined propeller shaft in a compact fashion. The gearing comprises a pair of mutually meshed spur gears respectively mounted on a reversing clutch output shaft and a transmission shaft to which the propeller shaft is coupled. Among these spur gears, a first spur gear coaxial with the shaft mounting such first gear is fixedly secured to the said shaft. A second spur gear inclined relative to the shaft mounting such gear is connected operatively to the said shaft particularly by means of constant velocity universal joint disposed within the second gear. The inventive propulsion device is economical owing to the elimination of bevel gear mechanism.