A gaff hook includes a rod member with a pointed hook part and a shank part terminating in a top end. A first collar is fixed coaxially to the shank part near the top end, and a second collar has an axial bore which recieves a top end portion of the shank part to allow rotational movement of the second collar relative to the shank part. The first and the second collars have engaging surfaces facing one another which surfaces are urged into frictional engagement by a bias mechanism to prevent free rotation of the second collar about the shank part. A gaff handle with a bottom opening for accommodating the top end portion of the shank part is fixed to the second collar.