Abstract: There is provided an improved apparatus and method for stripping insulation from coaxial cable for placing the cable in condition to be terminated to a connector. The apparatus is in the form of a hand tool which includes a single spring biased blade and a plurality of bore holes of different diameters adjacent to the blade. The coaxial cable is inserted in a first bore hole where the outer insulation is stripped by the blade. The cable braid is then partially flared out and the cable is placed in a second bore hole having an annular shoulder, which causes the braid to be peeled back thereby exposing the inner insulation which is then stripped by the blade. The blade does not come in contact with the braid, thereby alleviating problems of shorting the braid to the conductor, scoring the conductor, and damaging the blade.