To provide a vertical machine tool with a movable main spindle, which performs bar feed machining by inserting a bar workpiece into the main spindle, and then repeatedly carrying out axial positioning, turning, and cutting of the bar workpiece.

A vertical lathe 1 is provided with a base 3, the main spindle 4, a headstock 7, a tool rest 8, and a splash guard 9. The main spindle 4 includes a chuck 5, and has an axis perpendicular to a floor surface. The headstock 7 bears the main spindle and is movable in a first direction in parallel with the main spindle axis. The tool rest 8 has a tool 11 mountable thereon. The headstock is movable in a second direction, and the bar workpiece 6 which has one end thereof gripped by the chuck, is machined by relatively moving the headstock and the tool, followed by cutting a part of the machined bar workpiece by a cut-off tool 11a as a machined workpiece. The lathe 1 has a support means 100 arranged over the headstock, for supporting the other end of the bar workpiece, and a workpiece transfer means 2 for receiving the machined workpiece from the chuck and transferring the same to the outside of a machining area.