The present invention is an improved book cover and removable reading light, the book cover having a central spine section having a longitudinal pocket therein and two outer covers each pivotally connected to opposite edges of the central spine section. An elongated reading light is removably mounted in the pocket of the central spine section, the reading light having a housing including a battery compartment for receiving batteries and a second compartment for receiving an extendable supporting arm for the reading light. The supporting arm and reading light are disposed for movement relative to the second compartment between an open position in which the supporting arm extends out of the second compartment and a closed position in which the supporting arm is disposed within the second compartment. In addition, the reading light is movably mounted relative to the supporting arm for directing light in different directions, as desired by the user. The housing additionally includes a locking device that engages the central spine for locking the light in position when used with the book cover. The locking device enables the reading light to be removed and used with a different size or shape book cover, or with an accessory holder for performing other functions such as mounting in a writing folder, on a music stand or on a computer monitor, so a single reading light can perform multiple functions.