Augmented reality light guide display techniques are described. In one or more implementations, an apparatus includes a housing configured in a hand-held form factor, one or more sensors configured to detect a position and orientation of the housing in three dimensions in a physical environment of the housing, a light guide that is at least partially transparent and supported by the housing, a light engine that is optically coupled to the light guide, and one or more modules disposed within the housing and implemented at least partially in hardware. The one or more modules are configured to calculate a position and orientation of an augmentation and cause the light engine to output the augmentation for display using the light guide such that the augmentation is viewable concurrently with at least a portion of the physical environment through the light guide.