A cutting tool, comprising: a holder, comprising: an insertion hole located at the tip end part of the holder and an insert having a rod-shape, and comprising: a shank part comprising a first end, a second end, and a peripheral portion extending over some distance between the first end and the second end, and a rotational axis; a first cutting edge formed at a first end of the shank part and a second cutting edge formed at a second end of the shank part; a first rising surface located between the first cutting edge and the peripheral portion of the shank part, said first rising surface being inclined in a direction away from the first cutting edge from a position closer to the rotational axis towards the outer peripheral portion of the shank part; a second rising surface located between the second cutting edge and the peripheral portion of the shank part, said second rising surface being inclined in a direction away from the second cutting edge from a position closer to the rotational axis towards the outer peripheral portion of the shank part; a first rake face being inclined from the first cutting edge along the rotational axis of the shank part; and a second rake face being inclined from the second cutting edge towards the rotational axis of the shank part; wherein the first rake face and the second rising surface are arranged such that the first rake face and the second rising surface face the same side with respect to the rotational axis of the shank part; the insert is inserted into the insertion hole; characterised in that the holder further comprises an adjustment member located within the insertion hole wherein a position of the insert is determined by a linear abutting contact between the second rising surface and a portion of the adjustment member; and the outer peripheral surface of the shank part of the insert is pressed and clamped on the tip end side relative to the adjustment member of the holder. an insertion hole located at the tip end part of the holder and an insert having a rod-shape, and comprising: a shank part comprising a first end, a second end, and a peripheral portion extending over some distance between the first end and the second end, and a rotational axis; a first cutting edge formed at a first end of the shank part and a second cutting edge formed at a second end of the shank part; a first rising surface located between the first cutting edge and the peripheral portion of the shank part, said first rising surface being inclined in a direction away from the first cutting edge from a position closer to the rotational axis towards the outer peripheral portion of the shank part; a second rising surface located between the second cutting edge and the peripheral portion of the shank part, said second rising surface being inclined in a direction away from the second cutting edge from a position closer to the rotational axis towards the outer peripheral portion of the shank part; a first rake face being inclined from the first cutting edge along the rotational axis of the shank part; and a second rake face being inclined from the second cutting edge towards the rotational axis of the shank part; wherein the first rake face and the second rising surface are arranged such that the first rake face and the second rising surface face the same side with respect to the rotational axis of the shank part; the insert is inserted into the insertion hole; characterised in that the holder further comprises an adjustment member located within the insertion hole wherein a position of the insert is determined by a linear abutting contact between the second rising surface and a portion of the adjustment member; and the outer peripheral surface of the shank part of the insert is pressed and clamped on the tip end side relative to the adjustment member of the holder. a shank part comprising a first end, a second end, and a peripheral portion extending over some distance between the first end and the second end, and a rotational axis; a first cutting edge formed at a first end of the shank part and a second cutting edge formed at a second end of the shank part; a first rising surface located between the first cutting edge and the peripheral portion of the shank part, said first rising surface being inclined in a direction away from the first cutting edge from a position closer to the rotational axis towards the outer peripheral portion of the shank part; a second rising surface located between the second cutting edge and the peripheral portion of the shank part, said second rising surface being inclined in a direction away from the second cutting edge from a position closer to the rotational axis towards the outer peripheral portion of the shank part; a first rake face being inclined from the first cutting edge along the rotational axis of the shank part; and a second rake face being inclined from the second cutting edge towards the rotational axis of the shank part; wherein the first rake face and the second rising surface are arranged such that the first rake face and the second rising surface face the same side with respect to the rotational axis of the shank part; the insert is inserted into the insertion hole; characterised in that the holder further comprises an adjustment member located within the insertion hole wherein a position of the insert is determined by a linear abutting contact between the second rising surface and a portion of the adjustment member; and the outer peripheral surface of the shank part of the insert is pressed and clamped on the tip end side relative to the adjustment member of the holder.