A utility knife includes a body having a handle portion and a head portion, the handle portion having a plurality of recesses formed in the handle portion. Each of the recesses is capable of receiving at least one replacement blade. A grip is pivotally attached to the handle portion and configured to be positioned in an open position or a closed position, the grip in the open position providing access to the at least one replacement blade. A blade carrier is pivotally coupled to the body, the blade carrier having a post and being rotatable between a closed position and an open position. An active blade is received by the post of the blade carrier such that the post extends into an opening of the active blade.