An electric fishing reel which is provided with a speed change mechanism excellent in silence and durability while realizing the size reduction. The electric fishing reel comprises: a drive motor for rotationally driving a spool rotatably supported on a reel body; a speed change mechanism rotatably mounted on a motor spindle and including an output gear having a rotational speed switched into a high speed or a low speed in accordance with the rotational direction of the motor spindle; and a power transmission mechanism for transmitting the rotation of the output gear to the spool. The speed change mechanism switches the rotational speed of the output gear by regulating the transmission of the rotation of the motor spindle with respect to the output gear.