Abstract: A combined hole cutting and chamfering tool is provided that in a preferred embodiment referenced by numeral (100) features a body member (2) having a lead section ("A") to which is secured a cutting bit (4) having a machining element such as a hole cutting edge (6). Spaced axially from section ("A") is a chamfering section ("B") having at least one chamfer machining element such as cutting edge (12) of a cutting bit (14) facing towards section ("B") and at least one chamfer machining element such as cutting edge (8) of cutting bit (10) facing away from section ("A") and closer thereto than cutting edge (12). Tool (100) is operative to cut a hole (18) through a workpiece such as a plate and then chamfer edges surrounding the hole on opposite sides of the workpiece from one side without having to remove tool (100) from hole (18).