A honeycomb shaped spool holder for use with sewing machines having at least one upstanding spool support spindle, comprising an inner cylindrical hub which has a central bore extending therethrough for vertically receiving the spindle of a sewing machine in such a manner as to permit the holder to freely rotate thereabout as the thread is dispensed. The spool holder further comprises an outer member having an overall truncated conical configuration sized and shaped to frictionally engage the interior surfaces of a cone shaped spool core, and has a plurality of partition walls extending in an axial direction between the inner hub and the outer member such that a spoke or honeycomb pattern is formed. The partition walls help to sufficiently strengthen the structure of the spool holder, so that the spool holder can withstand a wide range of dynamic forces that may be applied thereto while it rotates at a high angular velocity about the spindle as the thread is drawn from the thread spool.