A precision multi-purpose machining apparatus for facilitating lathing, milling, drilling, sawing or routing operations typically using a rotary-type cutting tool. In a preferred embodiment the multi-purpose machining apparatus of this invention is characterized by an elongated support frame and a cutting tool mount cradle which is adjustably mounted on the support frame for receiving a cutting tool, such as an electric-powered DREMEL (trademark) rotary cutting tool. The support frame is capable of resting in a horizontal position, in which the cutting tool can be fitted with a cutting tool bit and the frame fitted with alternative workstock mounting attachments, to facilitate various lathing operations on a wooden or aluminum workstock. Alternatively, a saw table and saw blade can be removably mounted on the horizontal support frame and the cutting tool becomes a saw motor, the rotating shaft of which is connected to the saw blade by means of a drive belt, to facilitate various sawing operations. In another application, the frame can be disposed in a vertical configuration, in which a rotary table is removably mounted on the support frame and the cutting tool fitted with a milling blade or drill bit to facilitate milling and drilling operations, respectively. Alternatively, a router table can be removably mounted on the vertical support frame or on the rotary table, and a router bit mounted in the cutting tool to facilitate router operations.