A floating low profile watercraft lifting apparatus comprises a buoyant support apparatus and a watercraft lift attached to the buoyant support apparatus. Embodiments of the lift have first and second cantilever arms pivotally mounted to a base at offset pivot points for use in shallow water. The lift includes an actuator connected to the first and second cantilever arms and operable to move the first and second cantilever arms between a collapsed configuration and an extended configuration with uniform application of force and a minimum amount of travel of actuator components. Embodiments of the support apparatus comprise pontoons within a frame attached to the lift and providing buoyant support for the lifting apparatus.