A snell holding and storing device comprises an inner holder portion and an outer holder portion. The inner holder portion includes a snell holder that extends downwardly and into the outer holder portion when the inner portion and the outer portion are attached to one another. Preferably, the outer holder portion is comprised of a material that allows the user to visualize the contents of the device. The snell holder provides a plurality of transversely-disposed and circumferentially-cut slots for retention of a snell within such slots.