Arrowhead with adjustable barb for bowfishing

An arrowhead for capturing and releasing prey during archery bowfishing or other archery activities includes an elongate housing for mounting to an arrow shaft; an elongate slot extending through the housing; an aperture extending transversely through the elongate slot, the aperture having a cross dimension that is larger than a width of the slot; and a barb having a middle section normally captured in the elongate slot in an extended position and at least one leg section extending from the middle section for movement therewith. The barb is slidable within the slot between a retracted capture/release position where the middle section of the barb is captured against rotation and a contracted position where the middle section of the barb is coincident with the aperture to allow rotation of the barb within the aperture about a central axis of the middle section to thereby adjust the at least one leg portion between capture and release positions of the barb for respectively capturing and releasing prey.