The tape rule holding assembly includes an engaging member, which can be made of a flat steel spring, folded over itself to form a clip that can attach securely to a user's pocket. The engaging member is encased within a protective covering, which can be made of leather. The protective covering prevents wear and tear on the user's pocket by reducing the amount of friction created when the holding assembly rubs against the user's pocket. A tool engaging member is attached to the protective covering which allows any tool with a clip, including a tape rule, to slide securely onto it. The tool then hangs conveniently off of the pocket of the user where it is easily accessible.