A tool belt including an inner tool receiving chamber positioned inside of an outer accessory pocket and configured to releasably contain a tool, such as a handheld drill, in an easily accessible position proximate to a user's hip. The tool belt may be configured such that the outer accessory pocket is capable of maintaining an opening of the outer accessory pocket open to permit easy access to items, such as nails, screws, and other connectors, contained in the pocket. The tool belt may also include an orifice in a bottom wall in the inner tool receiving chamber enabling a portion of a tool, such as a drill bit and a portion of a chuck drive assembly of a drill.