Abstract: The present invention provides for a tool holder for use by fishermen, handymen and the like. The tool holder comprises a holster portion having a pocket of a size for holding a tool, the pocket being formed from a front and base connected together along the sides thereof and having an open top. The tool holder includes a belt loop portion for attaching the holder to the belt of a user. The holster portion is suspended from the belt loop portion through a moveable connection which allows the holster portion movement from front to back and side to side simultaneously. This allows the holster portion to remain suspended in a generally vertical orientation independent of the movement of the user thereby reducing the possibility of interference of the holster to freedom of movement of the user.