Abstract: A tool magazine has been developed, in which the tool rack includes a gripper into which the holder for the tool that keeps the cutting part standing and facing upward is to be fitted from above, the gripper has a ring-shaped inner circumferential edge that has an opening in an approaching and leaving direction of the tool moved by the magazine arm, a pair of engagement portions are arranged on opposite ends of the inner circumferential edge and beyond a half turn of a horizontal section of the holder, and the magazine arm includes: a hand configured to grip the holder for the tool that keeps the cutting part standing and facing upward in a horizontal direction; approaching and leaving means configured to cause the hand to approach the gripper and leave therefrom; and elevator means configured to move the hand up and down.