Abstract: A utility knife includes a holder having two mating halves which combine to develop a first cavity located at a proximal end of the holder, for receiving a blade for active use, and a second cavity located toward a distal end of the holder, for receiving a supply of replacement blades. The two mating halves are joined by a hinge located at the distal end of the holder, and a closure in the form of a captive screw extending between the mating halves at a position between the first cavity and the second cavity. Both the first cavity and the second cavity incorporate a magnet for directly engaging the active blade, and for additionally engaging one or more stored replacement blades.