Abstract: An ice cutting instrument for beveling the ice around the bottom of a hole cut in the ice on a lake, which is driven by a motorized power unit. A vertical power shaft supports a cutting blade which can be adjusted between a position near the shaft to an angled position by a control rod extending along the shaft. The shaft carries one or more spacing devices to center it in the hole. The instrument is inserted in the hole, the blade is extended, and the power unit is then energized to rotate the instrument, which is then pulled upwardly to cut the enlarged opening.