PURPOSE: To safely and efficiently replace an edge tool by feeding out an old edge tool to a position at least shifted from a plane stock and subsequently moving the plane stock to an edge tool feed-in place and operating a feed mechanism and a feed-in device to feed a new edge tool to the predetermined position of the plane stock.

CONSTITUTION: The plane stock 4 of a veneer lathe A is stopped at an edge tool feed-out place and, after the holding of an old edge tool 6 due to an edge tool presser 5 is released, the feed-out device P facing to the feed-out route of the old edge tool 6 and the feed-out cylinder 14, feed-out rolls 16a, 16b and transfer rolls 10a, 10b of a transfer mechanism B are operated to feed out the old edge tool 6 to a position shifted from the plane stock through the through-hole 7 bored in the frame of the veneer lathe A. Subsequently, the plane stock 4 is moved to an edge tool feed-in place and the feed rolls 12a, 12b and feed-in rolls 28a, 28b of both of the feed mechanism C and feed-in device E facing to the feed-in route of a new edge tool 6 and a feed-in fluid cylinder 21 are operated to feed the new edge tool 6 to the predetermined position of the plane stock 4 through the through-hole 7.