To improve the working efficiency without any large improvement of a conventional tool holder, etc., by easily performing the alignment in the initial setting of a cutting tool, and correcting the displacement attributed to a collision of the cutting tool with simple structural improvement.

In a cutting tool holding device, a tool holder is provided on a turret head, a sleeve 3 is inserted in and fitted to the tool holder, a cutting tool 4 is turnably inserted in the sleeve 3, and the cutting tool 4 is fixed to the tool holder through the sleeve 3 by bolts. The cutting tool holding device is eccentrically thick-walled so that the axis P1 of an insertion hole 3 of the cutting tool 4 of the sleeve 3 is eccentric to the axis P2 of the sleeve 3, a free hole 5 is made to be a long hole in the circumferential direction of the sleeve 3, and a fixing means to fix the relative rotational position to the tool holder of the sleeve is provided.