A trotline storage and dispensing device is disclosed. The device includes a base wall, first and second pairs of side walls extending upwardly from the base wall, and a divider wall extending substantially parallel to each of the first pair of side walls and between each wall of the second pair of side walls. A pair of storage compartments, each bounded by the base wall, one of the first pair of side walls, the divider wall and the second pair of side walls is thus formed. Hook storage and dispensing tubes are disposed at the top of and extend along each of the first pair of side walls. Each of the storage compartments receives a trotline, while the hook storage and dispensing tubes receive and retain hooks connected by leaders to the trotline so that as the storage and dispensing device is moved away from an anchored end of each trotline, the trotline, leaders and hooks are pulled over one of the second pair of side walls and out of the storage and dispensing device.