Abstract: A combination bookmark and holder for a writing instrument including an elongated, flexible bookmark strip having an upper portion and a lower portion. The upper portion is of sufficient length so as to fit between the pages of a book in the direction parallel to the spine of the book and the lower portion defines an elongated, flexible pouch therein parallel to the upper portion for releasably holding a writing instrument. In the preferred embodiment, the bookmark is formed from a knit stretch material such that it may be easily folded or compressed into a small bundle when the writing instrument is removed for easy storage on the person of the user.