A tool holder for a resharpenable cutting tool insert has a body portion which includes a recess. A wedge member is positioned in the recess. A locking screw locks the wedge member such that the top surface of the wedge member is in engagement with the bottom surface of the insert and the locking screw is threadably connected to the body portion and to the wedge member so that the cutting tool insert may be removed for sharpening and re-inserted at the same location relative to the tool holder.