Equipment and a method for changing a blade which is intended to be placed in a blade holder (10) and which is preferably arranged as a flexible band (16). The equipment has reels (14, 15) for keeping the band (16) reeled and transfer devices (18) for moving the band (16) in the blade holder (10) between the reels (14, 15). The equipment includes guide devices (17) for guiding the band (16) from a reel (14, 15) to the blade holder (10) and vice versa. The guide devices (17) are arranged to turn the band (16) longitudinally to be essentially parallel to the blade holder (10). The closest guide member (20) of the guide members (20, 20′) belonging to the guide devices (17) is rotated to a position that essentially corresponds to the position of the blade holder (10) turned to the blade-changing position.