Abstract: A sharpening device for sharpening drill bits on the flat surface of an electric grinding wheel or on a flat surfaced sharpening stone. The device includes a vise type drill bit holder which can accommodate various sizes of drill bits, the vise type holder having a slotted and angled set of jaws for positioning the drill bit at the correct grinding angle to the grinding surface. The holder is supported by handles such that the holder can be manually swivelled during a grinding process. A calibrated gauge for adjusting the protrusion of the drill bit from the holder is provided to obtain the correct lip angles. The sharpening device includes threads on the spindle about which the sharpening device rotates so that the drill bit moves sideways parallel to the grinding surface during grinding to prevent excessive wear in one spot on the grinding surface to thereby redress the grinding surface. Alternate means of supporting the holder are available including manually holding the device.