Abstract: An adjustable tension and/or compression tap holder includes a shank adapted for rotative drive and longitudinal feed and mounting a drive socket at one end. A cylindrical carrier slidably nested within said socket and has a series of drive slots which receive a corresponding series of drive balls nested within said socket interconnecting said shank and carrier for rotation in unison and providing for longitudinal adjustment of the carrier relative to the socket. The carrier is adapted to receive a tap retaining bushing. A tension and compression adjusting screw is nested within said shank and at one end, loosely secured upon said carrier. A tension and compression adjusting nut is threaded into said shank and is interconnected with said screw so that rotation of the screw will effect longitudinal adjustment of the adjusting nut.