A clip-on weight is provided for quick and simple attachment to a fishing line. The clip-on weight includes a clip and a weight attached to one end of the clip. The clip is formed from a unitary length of wire which is bent around itself such that a plurality of legs is defined. Three U-shaped bends are formed to interconnect the legs. The clip is designed such that it is generally planar and the legs are parallel to one another. The weight is disposed around the first bend and is formed from dense metallic materials such as lead. The weight extends upwardly such a distance that it terminates slightly below the third bend, and also extends downwardly a predetermined distance such that the first bend may be centrally disposed therein. The clip-on weight is clipped onto a fishing line where it can easily slide down to make contact with a lure attached at the end of the fishing line to unsnag it from an underwater obstacle.