Abstract: A bit or tool holder attachment comprising: a main body, having a connecting body mounted on electric drill or electric driver or power tool or manual tool, and a string and a cable retracting device are arranged in the main body, and one end of the string is fixed on a fixing body; and at least one bit or tool holder, having a movable body and a fixing ring, an attaching hole is arranged in middle of the fixing ring for a bit or tool to pass through and be attached in the fixing ring, and a ring-shaped recess is also arranged on outer surface of the fixing ring, and the movable body is sleeved on the ring-shaped recess, and one end of the movable body is connected with the fixing body, so that the bit or tool holder can be extended and retracted relative to the main body.