Abstract: The present invention first provides a utility knife with a replaceable blade, comprising a knife handle, a blade holder, a blade and a locking device that locks the blade in the blade holder. The blade holder and the blade are enabled to switch between a first position and a second position. When the blade holder and the blade are in the first position, the blade is used for cutting operation, and when the blade holder and the blade are in the second position, both the blade holder and the blade are received in the knife handle. The utility knife further includes a restriction means which is thus arranged as, when the blade holder is in the second position and the locking device is in unlocked state, the restriction means is used for preventing the detachment of the blade from the blade holder by confining the movement of the blade relative to the blade holder.