A combination toolchest and workbench has a base member with an upper surface, and front, back and side edges. An upright rear panel with lateral edges and a top edge, is affixed to the back edge of the base member. A pair of opposed upright side panels, each having a lower edge adjacent to one of the side edges of the base, an upper edge, a forward edge, and a rear edge, are each pivotably attached to one of the lateral edges of the rear panel. The inside surfaces of at least one of the rear and side panels have tool-holding device receptors. The combination toolchest and workbench has a top member and an openable front panel. The combination toolchest and workbench can thus present an array of tools in a securable enclosure.