A spherical bearing replacement and installation tool, including a removal cup having an open bearing-facing end, a receptacle portion, and a closed base end having a threaded center hole; a removal bolt sized for passage through a through hole in a spherical bearing and threadable insertion into said threaded center hole; a bearing installation clamp assembly including a clamp body portion having a bar disposed between and joining first and second arms, said first arm having a first through hole and said second arm having a second through hole with a threaded bore, said first and second through holes being cylindrical and axially aligned with one another; a staking tool rotationally disposed in said first through hole; and a bearing press rotationally disposed in said second through hole. A method of using the inventive tool is also disclosed.