A golf club counterweight for releasible attachment to, and relocation upon, a golf club shaft is formed by a weight member having a shaft aperture sized to accommodate the shaft of a golf club. Friction means are provided within the weight member so that it may be relocated upon the shaft as the golfer desires. By attachment and relocation upon the shaft, the counterweight affects the weight distribution of the golf club by increasing/decreasing the golf club mass near the golf club head, and thus changes the swing weight of the golf club. The golfer may thus adapt the swing weight of the golf club to account for variations in golf course conditions and in the golfer's personal preferences in the feel and handling of the golf club.