You may have been able to ignore the shark for now, but you won't be able to forever.

Here's how to deal with it.

You should craft a wooden spear, which is a tool that allows you to attack the shark. However, you want to play defensively. If you jump in to the water to fight it, you will lose. It is a shark. You will lose. Don't try it.

Wait for the shark to attack your raft, and then hit him with your spear. After four hits with the wooden spear, he will let go of the raft.

You can also distract it by using shark bait, which will keep him in place for a while, useful if you want to do some underwater expeditions.