Abstract: An angler's utility tool that includes a line cutter and a sharpening stone has been developed to facilitate hook and lure exchanges. The angler's tool includes a first planar member, a second planar member, a lever arm, and a sharpening stone. The first planar member has a first end and a second end with the first end of the first planar member terminating into a first jaw. The second planar member has a first end and a second end with the first end of the second planar member terminating into a second jaw. The second ends of the first and the second planar members are joined to one another. A fulcrum pin extends through the first ends of the first and the second planar members. The lever arm is pivotally and rotationally mounted to the fulcrum pin, and the sharpening stone is mounted to the covering layer covering the portion of the second planar member. The sharpening stone may include a groove in a longitudinal edge to enable hook point sharpening.