An improved quick change power tool chuck is provided which is principally used on a wood working router but could also be used in many other power tool applications. Key features of the quick change chuck include the unique way that it secures the cutting bit from unwanted slippage, the large mechanical advantage thereof and the speed in which a cutting bit can be removed and replaced. The chuck can be aligned and attached to the power tool in the same manner that a standard collet is aligned and attached to the router spindle or to a router or other drive shaft in a number of different ways.