An ice fishing underwater camera holder is disclosed which is used for holding the camera at a desired depth and rotating the camera to the desired viewing area. The camera holder comprises a disk for setting over a hole in the ice. The disk having a slot for passing a cable through and for holding the cable by use of a plurality of cleats aligned on the top of the disk for winding the cable between the cleats. To adjust the length of the cable, the cable can be removed from the cleats and the length of cable passing through the slot adjusted before winding the cable through the cleats. The cable has a camera on one end to view fish or other objects below the ice. To turn the camera to a desired position for viewing the disk is rotated thus turning the cable to align the camera.