A knife with illumination and floating means is presented. In an embodiment, a knife is presented having a handle and blade. The handle has a waterproof battery compartment that acts as a floatation means. Also the handle has a waterproof battery compartment cover () and a waterproof on/off switch to turn a light that shines on the blade on or off. Also, a sheath is removably disposed to the blade via a locking arm. The sheath has a belt clip also.