A multi-tiered rack for tools is disclosed. The rack includes at least one stepped section or spaced upper and lower stepped sections each having interconnected alternating horizontal and vertical surfaces arranged in a stepped pattern. Structural connecting elements support the at least one stepped section or spaced upper and lower sections in the aforementioned stepped pattern. Where upper and lower stepped sections are used, each horizontal surface is aligned in substantially parallel relationship to a corresponding horizontal surface in the other of the upper and lower stepped sections. Similarly, each vertical surface in one of the upper and lower stepped sections is in generally aligned coplanar relationship with a corresponding vertical surface in the other of the upper and lower stepped sections. In order to support tools, tool supporting means such as tool openings are formed in the horizontal surfaces of at least the upper, and preferably both the upper and lower horizontal surfaces of the upper and lower stepped sections for receiving tools to support same in the multi-tiered rack. Where only one stepped section is used, tools are supported by the rack, but rest on a supporting surface which also supports the rack.