Fly fishing reel. The reel comprises a housing (2, 102, 202), a main axis (3, 103, 203), a swivel driving lever (4, 104, 204) preloaded by elastic recovery means (11, 111, 211) and a first pinion (6, 106, 206) driven by driving lever (4, 104, 204). First pinion (6, 106, 206) is coaxial to main axis (3, 103, 203). The reel also comprises a reel (8, 108, 208) for winding up line (34, 134, 234) that is coaxial to main axis (3, 103, 203) and a brake (9, 109, 209) for spool (8, 108, 208). Between first pinion (6, 106, 206) and spool (8, 108, 208) a gearing (7, 107, 207) is provided. Said gearing (7, 107, 207) comprises at least one planetary train made up of a second pinion (18, 118, 218), at least three planet gears (16, 116, 216) and a ring gear (15, 115, 215). Ring gear (15, 115, 215) is linked to first pinion (6, 106, 206) via a one-way clutch (13, 113, 213).