A multi-purpose utility tool which may include an elongated body member configured to slidably house a tool bit mounting device inside of the body member. The body member may be operable to receive the tool bit from within the body member and to expose the tool bit for use outside of the body member. The tool may also include a support device slidably cooperating within the body member. The support device may cooperate with the mounting device for rotatably holding the mounting device within the body member. In addition, the tool may include a locking device which also slidably cooperates within the body member. The locking device may also slidably mate with the support device and lock the support device within the body member at a desired location within the body member.