The present invention involves a tool changer for removal and installation of tools in a machining center having a machine tool with a spindle for holding a tool disposed within the machining center frame. The tool changer comprises a tool rack having a plurality of locations for holding tools, and an arm structured and arranged to be movable between the plurality of locations and a position which is capable of accessing a spindle of the machining center. Each tool holding location farther comprises a fork, which has a plurality of prongs. The movable arm has two grippers and one of the two grippers is disposed at an angle of about 90° relative to the other of the two grippers. The movable arm also is associated with rotational, vertical, and horizontal movement mechanisms. The rotational mechanism includes a motor, a pulley associated with the motor, a belt attached to the motor and the pulley, and a gear wheel attached to the belt with a limit switch for sensing one of the locations on the gear wheel. The vertical mechanism includes a vertical shaft and a cylinder capable of moving the movable arm vertically. The horizontal mechanism includes a linear track and a cylinder capable of moving the movable arm laterally. The frame further includes an access door located proximate the tool holding locations and sized to allow for manual access to one of the tool holding locations. The access door also has at least one location for holding a tool. The tool changer further comprises a cylinder actuated door which allows for the arm to access the spindle.