A hand-held power tool with an electric drive motor, by means of which a rotary sleeve impacting upon a tool retainer holding a tool can be rotatably driven by a transmission, and by means of which an impacting mechanism can furthermore be driven. The power tool includes an axially oscillating drive piston, an impactor impinged by the drive piston over an air cushion which will transmit its impact energy onto the tool. A translation drive acts upon the drive piston with a rotatably driven drive member with a curved guide. At least one actuator follows the curve guide and acts upon the drive piston to effect its axial displacement. The drive member consists of a drive sleeve coaxial with and concentrically enclosing the drive piston and the impactor. The drive sleeve has a guide surface closed in itself in the circumferential direction and has an essentially steadily rising or falling incline with curve maxima and curve minima. The actuator is designed as a separate and freely movable rolling or sliding body and is in immediate contact with the drive piston at a location adjoining the guide surface. The rolling or sliding body is prevented from deviating along the guide surface by means of a positive retainer securing these like a cage, but held in the axial direction with a degree of freedom required for following this guide surface.