Abstract: A compact lighting device includes a battery-powered light emitting element and a housing that can be magnetically attached to a ferrous metal object, such as a hand tool. The housing and/or magnet can be provided with a longitudinal groove that causes the lighting device to automatically self-align with any cylindrical object to which it may be attached. The housing can have a switch extending therefrom to allow a user to activate and deactivate the light emitting element. Alternatively, the light emitting element can be turned on and off by moving the housing relative to the magnet.