A reversible drill and drive tool holder for use in performing a series of similar drill and drive operations. The tool holder consists of three major parts: a hollow cylindrical locking sleeve; an elongated shaft lying partially within the sleeve and having one end adapted to be held in the chuck of an electric drill and the other end forked; and a tool holding member rotatably pinned into the forked end of the shaft. The tool holding member has a socket at each end for holding a drill bit at one end and a driving tool at the other end. The shaft is held within the cylindrical sleeve by a spring-loaded pin and is capable of axial movement within the sleeve. When the shaft is moved forward against the spring, the tool holding member is freed to rotate about the pin in the front fork of the shaft, thus permitting either a drill bit or a driving tool to be moved into operating position. When either tool is in operating position, the opposite end of the tool holding member will retract under the force of the spring into the end of the sleeve and be held by the forward edge of the sleeve.