The shoe with interchangeable covers is a modified pair of women's shoes consisting of a base, a sole with a removable heel, and a cover which is attached to the base and the sole with two sets of straps joining under the sole and fastened together with hook and loop type fasteners. The base of the shoe features a layer of padding for extra comfort and low rising vertical sides for supporting the interchangeable cover. The sole of the shoe is formed with a pair of notches on the bottom, one in the toe area and one in the arch area. These notches serve as guides into which the straps are placed and secured to one another. The cover can be made in various styles from dressy and elegant to casual and sporty by adding decorative items, such as zippers, buttons, bows, and the like and by varying the heel height and width. The interchangeable covers and heels allow the owner to have numerous pairs of shoes for the price of one. Thus any woman could save money through the purchase of one pair of shoes as opposed to purchasing shoes to coordinate with every outfit in her wardrobe. Additionally, the female traveler could pack a single pair of shoes to complete a number of ensembles, thereby reducing the load with which she travels.