Do you kill the fish you catch for drops?

[Vazzaroth]

I am having a surprisingly hard time finding this answer online. Do I need to kill the fish I catch with my fishing rod to get the chance at rare drops? Or does it pull up with the fish, like in a chest or something? I've seen that in other games.

I was hoping to catch and release but if I gotta kill 'em to get my upgraded gear, so be it. I'm still keeping the first one I catch of each species anyway for my aquarium.

[ChaosFungus]

Unfortunately, yes. You do have to kill the fish for those reels and lures. Just take note that fish in the Common category will not drop any reels or lures.