A tool holder having a tool receptacle for chucking a tool shaft by frictional engagement, in which the tool receptacle comprises a plurality of annular clamping surfaces spaced apart from one another, which are intended for retaining the tool shaft by nonpositive engagement and are embodied on the inner circumference of a tube part, and the tube part has a recess in the material for varying its clamping action; the recess in the material is embodied by a plurality of annular channels extending in the circumferential direction, which are each separated from the tool receptacle by a resilient wall portion, which on its side facing away from the channel embodies the respective clamping surface.