PURPOSE: To keep a tool in a specified position over a long time by providing an adjustment device for a rotating tool such as a reamer with a means for adjusting the offset of axes between two interconnected component members.

CONSTITUTION: A tool is mounted in a clamping jaw 13, and an adjustment screw 36 specifies the insertion depth of the tool into a chuck receiving device 1. When a sleeve nut 15 is driven in, the tool is tightened within the device 1, in which case an offset arises between a tool axis and a hole 5 because of the errors of the positions of a hole 12 and a centering hole 5. To compensate for the offset, locking screws 27, 28, 34 assembled into a machine spindle are loosened and supported on opposite supports 29, 33, and an intermediate part 18 or a cylindrical end 9 is pushed toward the positions of the screws 27, 28, 34 controlled. After the axis of the tool has been adjusted to a zero position with respect to the axis of a fixed flange 2, the screws 27, 28, 34 are driven in toward the opposite supports 29, 33 to achieve locking.