A variable pitch propeller primarily for marine use which includes a hub for mounting on a driven shaft. The hub has a plurality of blades which are mounted to bearing rings which are carried in recesses in the hub, with removable snap rings retaining the bearings therein with cap screws from the bosses extending to and engaged with the bearing rings for full 360. degree. rotation to automatic pitch positions and with cap screws which may extend into spaced holes in the hub for setting the blades to desired fixed positions.