Abstract: A non-rotating stabilizer tool is provided for connection within a drilling string for stabilization and centralization of the drill string within a well bore being drilled by a rotary drill bit. The tool incorporates an elongate stabilizer and centralizer mandrel having upper and lower collars for its connection within the drill string. The mandrel defines an external circumferential stabilizer receptacle having a cylindrical surface and upper and lower shoulders which are lined with a wear resistant low friction material. The mandrel defines a plurality of axially spaced circumferential seat grooves which interrupt the cylindrical receptacle surface and the friction resistant lining. A stabilizer is rotatably mounted within the stabilizer receptacle by a plurality of wear pads that are seated within the circumferential seat grooves and provide rotatable support for the stabilizer with its inner periphery disposed in spaced relation with the lining of the stabilizer receptacle.