Abstract: A fastener driving tool includes a cylinder, a piston movably disposed within the cylinder, a striking rod operable by the piston and having lift teeth, and a lift and release mechanism for lifting and releasing the striking rod and the piston. The mechanism includes a rotatable toothed disc which has disc teeth that sequentially engage with the lift teeth as the striking rod is lifted from a lower driven position toward an upper retracted position. The toothed disc is movable relative to the striking rod with a torque generated as a result of a non-meshing interference to bring the rotating axis of the toothed disc into deflection away from the striking rod for releasing the interference, and is further biased by a biasing member back to its original position.