A quick release chuck device includes a body member having a frusto-conical chamber defined therein for receipt of a conventional collet. A plurality of weighted cam members are disposed around the circumference of the body member and include a first end which is pivotally mounted to the body member. The cam members have a center of gravity longitudinally spaced from the pivot point wherein upon rotation of the body member in an operational mode, the cam members are caused to pivot relative to the body member and swing radially outward from the body member. A collet engaging member is disposed at a first end of the cam members and is configured to engage and move the collet into the frusto-conical chamber as the cam members swing radially outward.