The variable weight diamond jig fishing lure has a jig body with an elongated diamond shape, having a greater length than width, with eyes formed into the opposing longitudinal ends for attachment to a fishing line and a fishhook, respectively. The jig body is formed from two symmetrical plates having their central portions stamped, molded, or otherwise formed outward to form a central chamber or cavity for receiving a weight or ballast. Slots are formed in the plates between the cavity and the eye. A lock plate having an eye defined in one end and a lock tab attached by a tang depending from the opposite end are inserted through the slots and rotated to lock opposing ends of the jig body together.