Abstract: A shaft alignment device comprises a pair of opposing adjustable clamping members, each being attached to the outside diameters of the shafts or axles to be aligned. A tubular, telescoping indicator holder extends outwardly from each clamping member. A dial indicator gauge is mounted on a rod projecting upwardly from the extended end of each indicator holder. The top surface of the clamping members are machined to a radius whereby rotating them 180.degree. from each other forms an indicating circle which is read by the dial gauge mounted on the opposing indicator holder.