A package for storing a roll of monofilament line with a cutting tool embedded in the package and a related method. The package is formed from two opposing clamshell portions made from sheets of film and pivotally connected together. A chamber is formed when the two clamshell portions are sealed together to store the roll of monofilament line. An aperture in one of the clamshell portions allows a length of monofilament line to be dispensed from within the chamber. A cutting tool is at least partially disposed between the two clamshell portions or inserted into a pocket in one of the clamshell portions when sealed together to attach the cutting tool to the package. At least a portion of the cutting tool is accessible from outside the package for cutting a length of monofilament line being dispensed from the package.