A removable, universal, multi-bit holster and method for storing multiple bits, for example, on a hand-held drill. The removable multi-bit holster comprises a cylindrical housing having a first surface and a second, opposing surface and a substantially sold volume there between. The housing comprises a center aperture and a plurality of cavities therein. The plurality of cavities are configured to each receive a drill bit therein. The aperture is configured for engagement with a bit-holder portion of the hand-held drill, such that the cylindrical housing is removably securable to the bit holder of the hand-held drill.