An inline electromagnetic tool actuator incorporates an actuator housing, an elongated armature, a tool assembly, spaced-apart return magnets, at least one drive magnet, and at least one magnet wire. The elongated armature is located inside the housing, and is adapted for reciprocating linear movement along a notional assembly axis. The tool assembly is operatively attached to the armature. The return magnets are located inside the housing, and are coaxially aligned with the armature. The return magnets have respective inward facing surfaces defining respective magnetic poles. The drive magnet is affixed to the armature, and is arranged between the return magnets. The drive magnet has opposing outward facing surfaces each of like polarity to adjacent inward facing surfaces of the return magnets. The magnet wire is coiled about the armature. When electrically charged with an alternating current, the wire creates an alternating magnetic field causing the drive magnet to bounce back and forth between repelling forces of the return magnets, whereby the armature and attached tool assembly reciprocate along the assembly axis relative to the housing.