A powe tool includes a saw blade ejection mechanism for a saw blade clamping arrangement of a power tool. The power tool includes a housing, a drive shaft mounted for reciprocating motion relative to the housing and a saw blade. The clamping arrangement is operative for releasably connecting the saw blade with the drive shaft. The saw blade ejection mechanism includes a mounting member and an elongated plunger. The mounting member is adapted for attachment to the drive shaft. The elongated plunger is connected to the mounting member for movement between a first position to a second position for ejecting the saw blade from the saw blade clamping arrangement.