Firstly, the correct answer is ‘the reel that you’ve got’ if that means you get out there and start having some fun with light rock fishing. But assuming that you want to improve your set-up, or perhaps you’re looking at buying a dedicated reel for LRF, then I would opt for a spinning reel (fixed spool) in the 1000 to 2500 sizes. Although the sizes between manufacturers don’t exactly match up, there seems to be less variance at the smaller end of the scale. I would be happy fishing either Daiwa or Shimano spinning reels in the 1000 to 2500 size range.
I have a number of 3000 sized reels that I use for bass fishing, but they feel quite heavy on a light LRF rod, hence my recommendation above.
My other preferences are for a reel with a front drag as they generally have finer control when compared to reels with rear drags. And if you can find a reel with an ultra shallow spool you may remove the need for backing (a possible problem area). But don’t get fixated by this last point. They’re still very hard to come by in the UK.
Check out some of my favourite LRF Reels