A cable stripping tool is provided for making a circumferential or ring cut and a spiral cut in the jacket of a cable. A cutting blade of the tool includes first and second blade portions which are integrally formed with each other and are angled relative to each other. In use, after the cutting blade penetrates the jacket, the tool is rotated in a first direction and the first blade portion cuts the jacket to form a ring cut. The tool is then rotated in a second, opposite direction and the second blade portion cuts the jacket to form a spiral cut. Thereafter, the tool is rotated in the first direction and the first blade portion cuts the jacket to form a ring cut. The cuttings by the blade portions are done without disengaging the cutting blade from the cable.