A surgical instrument holder (10) is made up of a head assembly (68) and a drive spindle assembly (42). The head assembly (68) has a shank (12) with a first driveable end (14) and second coupling end (16). The second end has a coupling device (20) having an interface (22) for receiving a surgical instrument (24). The instrument (24) is held in functional assembly to the shank by a releasable locking mechanism (26). The releasable locking mechanism (26) is made up of a locking ring (30) slideably disposed about the shank, a spring (32) biased against the coupling device (20) by the locking ring, and a connection ring (34) retaining the locking ring in a fixed position during use. The drive spindle assembly (42) is connected to the head assembly (68) so as to transmit torque therethrough. The spindle assembly (42) has an elongated drive spindle (40), high precision bearings (44, 120, 122) and a cylindrical tube (46). The drive spindle (40) is releasably mounted to an end (36) of the spindle assembly and is supported for rotation within the cylindrical tube (46) by the high-precision bearings disposed therebetween and held in place at least in part by the shank (12). The bearings (44) precisely control the position of a surgical instrument (24) affixed thereto. The connection ring (34) provides a common quick-release connection with the head assembly (68) and the drive spindle assembly (42), such that unlocking of the connection ring (34) enables quick disassembly of the connection ring, spring (32), locking ring (30), and drive spindle assembly (42) for cleaning and component sterilization.