A coaxial terminal connecting tool includes a second handle portion, a first handle portion, and a transmitting portion. The second handle portion has a receiving slot including a guiding assembly and a terminal receiver. The terminal receiver fixing the terminal element is formed at an end of the receiving slot. The first handle portion is pivoted to an end of the second handle portion. An end of the transmitting portion is pivoted to a first predetermined position formed on the guiding assembly and another end thereof is pivoted to a second predetermined position formed on the first handle portion. A length of the transmitting portion is adjustable. An end of the adjusting unit is arranged to a first predetermined position of the guiding assembly, while another end thereof is pivoted to the transmitting portion. The adjusting unit consists of a first sliding portion, adjusting portion, and a second sliding portion.