This paper gives a detailed description of the homotopy type of K, the space of long knots in R 3 , the same space of knots studied by Vassiliev via singularity theory. Each component of K corresponds to an isotopy class of long knot, and we list the components via the companionship trees associated to knots. The knots with the shortest companionship trees are: the unknot, torus knots, and hyperbolic knots. The homotopy type of these components of K were computed by Hatcher. In the case the companionship tree has more than one vertex, we give a fibre-bundle description of the corresponding components of K, recursively, in terms of the homotopy types of components of K corresponding to knots with shorter companionship trees. The primary case studied in this paper is the case of a knot which has a hyperbolic manifold contained in the JSJ-decomposition of its complement. Moreover, the homotopy type of K as an SO 2 -space is determined, which gives a detailed description of the homotopy-type of the space of embeddings of S 1 in S 3 .