A fishing rod holder features an automatic hook setting mechanism which is adjustable over a wide range thereby making it suitable for use with both heavy and light tackle, and for stationary use or trolling. The fishing rod holder includes an elongated rod retainer which is pivotally coupled to a support member such as a ground engaging stake or the sidewall of a boat. The fishing rod is carried in a generally horizontal position on top of the rod retainer by a cup which receives the butt of the fishing rod and a guide bar which supports and confines an intermediate portion of the fishing rod. According to an important feature of the invention, the guide bar is spring biased for yieldably resisting downward movement relative to the rod retainer, thereby preventing the triggering mechanism from being actuated by the weight of the fishing rod. The rod retainer is held in a cocked position by a latch which is pivotally mounted on the support member. The latch is released by an elongated trigger arm which is attached on one end to the guide bar and which is movably coupled at its opposite end to the latch. The trigger arm includes a cam for movably engaging the latch, and has an intermediate portion which holds the cam in a vertically offset and transversely extended position with respect to the guide bar whereby downward movement of the guide bar, in response to a strike, is converted into rotation of the cam against the latch.