An improved tool holding apparatus includes a collet chuck or a steel ball chuck that clamps a pull bolt, which defines the forward end portion of a tool, by resilient force applied thereto from a coned disc spring. The tool holding apparatus further includes a temporary clamping device which is buried in a sleeve to temporarily clamp the pull bolt. A clamping force applied by the temporary clamping device is set at such a level that an arm can draw the tool from a main spindle by gripping the rear end portion of the tool.