Abstract: A socket holding device having a body with a plurality of socket-receiving members affixed thereto. Each of the socket-receiving members has a generally tubular configuration with an open top and a closed bottom. A slot extends from the open top toward the closed bottom along each of the plurality of socket-receiving members. A magnet is positioned in the closed bottom of each of the socket-receiving members. A plurality of sockets of different sizes are respectively removably received in the plurality of socket-receiving members so as to be physically accessible from outside of the socket-receiving member through the slot. The socket is magnetically releasably retained by the magnet.