Abstract: The valve adjustment tool includes an elongated barrel having a bore therethrough. The upper portion of the barrel is provided with a tool land and a length of external threads. The lower end of the barrel is provided with an integral collet which forms a nut socket. The collet is surrounded by a compression collar. An elongated internally threaded sleeve overlays the barrel. The sleeve abuts the compression collar. When the sleeve is threaded downwardly on the barrel, the collar compresses the collet. When the sleeve is threaded upwardly on the barrel, the collar is free to move and the collet assumes its uncompressed state. An elongated valve adjuster driver is also provided. The driver is provided with a large disc shaped knob at its upper end and an engagement lug at its lower end. The driver normally reposes within the through-bore of the barrel and is rotatable therein and removable therefrom. The top of the disc shaped knob provides a landing for the foot of a dial indicator.