An improved fastener removal apparatus is configured to remove a swaged fastener of the type having an elongated threaded pin and a collar, with the collar being swaged to the pin. The fastener removal apparatus includes a nose assembly that can be mounted to an actuator of the type having a base and a translatable piston. The nose assembly includes a threaded thimble and a cutting anvil that are translatable with respect to one another. The threaded thimble is threadably connectable with the pin. The cutting anvil includes a number blades that cuttingly engage the swaged collar when the thimble is connected with the pin and translated with respect to the cuffing anvil.