The hole saw slug removal device is a device constructed to fit within a hole saw that provides for automatic ejection of waste slugs from within the hole saw. The hole saw slug removal device generally consists of two discs affixed on either end of a compression spring. The device is then inserted into the hole saw, and one disc retains the compression spring within the hole saw by locking onto the drill bit or against the inner surface of the hole saw. Upon operation of the hole saw, the spring compresses and the other disc is pushed down by the force of the sawing. After the sawing is completed, the spring decompresses, and the disc is pushed forward, automatically ejecting the waste slug that has become trapped within the hole saw. The slug removal device may lack one disc and instead be permanently affixed to a hole saw.