A solid tool gripping and alignment plate, for accurately gripping and holding a tool placed therein in perfect alignment. The tool gripping and alignment plate consists of a flat unitary tool gripping plate with a smooth non-circular opening formed in the tool gripping plate for gripping a tool therein fully 360 degrees about a tool's periphery upon adjustment of the gripping plate. A single threaded adjustment member is arranged through a side of the gripping plate for biasing a portion of the smooth non-circular opening in the tool gripping plate from a non-circular shape into the circular shaped opening for circumferentially gripping of a tool therein.