Abstract: A tool changing arrangement for a machine tool comprises a rotary and axially movable drive spindle which coaxially carries a holding member rotatable therewith and movable in axial direction relative thereto. A tool carrier movable transversely to the holding member is provided at one end with a T-shaped slot into which a corresponding male portion on the holding member may be engaged, to couple the tool carrier to the holding member. The spindle and the tool carrier are provided at facing ends with interengaging centralizing portions which during axial movement of the holding member relative to the spindle axially align the tool carrier and the spindle.