A surgical tool holder aids a surgeon in controlling the use of a tool during, for example, preparation of a femoral cavity for reception of hip joint prosthesis. The holder has a housing that encloses a mechanism having, at a far end, a tool-engaging interface, and at the opposite end, a handle which facilitates manipulation of the tool during use in preparing a bone site by the surgeon. The holder enables easy orientation of the tool attached to its end, which is important because control of the tool is critical in order to accurately prepare a recess for reception and installation of a prosthesis.