An umbilical cord clip and applicator is disclosed for clamping a maternal side of an umbilical cord, applying an umbilical cord clip to a fetal side of the umbilical cord and severing the cord intermediate the clamped maternal and fetal sides of the umbilical cord. The applicator includes a first arm having a first clamping surface, a second arm movably affixed to the first arm and having a second clamping surface and structure associated with at least one the first and second arms for mounting an umbilical cord clip thereon. The applicator also includes a recessed severing mechanism operatively associated with the first and second arms and disposed intermediate the first and second clamping surfaces and the mounting structure. The severing mechanism is automatically actuable upon closure of the first and second arms about an umbilical cord to sever the cord at a location between the first and second clamping surfaces and the clip. The umbilical cord clip includes a first leg having a first clamping surface and a second leg movably affixed to the first leg and having a second clamping surface. A lock device is associated with the first and second legs for maintaining the first and second legs in a closed position about the umbilical cord. Attachment structure is also associated with at least one of the first and second legs. The attachment structure is releasably engagable with the mounting structure on the applicator to hold the umbilical cord clip on the applicator.