A drill bit storage box with an integral gauge is provided. The storage box has a hinged top surface, a bottom, slanted sides and an interior. The top surface has a plurality of various sized openings for receiving drill bits, with each opening corresponding to a specific size drill bit. The interior of the storage box has a plurality of holding bins located beneath the plurality of openings of the top surface. When a drill bit is placed through the opening which corresponds to the exact diameter of the drill bit on the top surface and the drill bit is released, the drill bit falls into the correct corresponding holding bin within the interior of the storage box. In this manner, a random number of drill bits may be sized and stored for future use.