Abstract: An adjustable toolholder apparatus includes a base plate having a planar supporting surface. A holder body includes a bottom planar supported surface which slideably engages and rests upon the supporting surface of the base plate. A linear position adjuster provides a linear sliding motion of the holder body upon the base plate. An angular position adjuster provides a rotational sliding motion of the holder body upon the base plate. The holder body has a wedge shaped recess within which is received a wedge shaped carrier block. A vertically adjustable column supports the wedge shaped carrier block from the base plate to adjust a height of the cutting tool. After linear and angular adjustment of the cutting tool relative to the base plate, the wedge shaped carrier block is clamped to the holder body, and the holder body and base plate are clamped to a cross slide to fix the cutting tool in its final desired position.