An interchangeable backspacer assembly for knives that allows different back spacers to be readily interchanged to selectively incorporate additional functionality, such as lanyard loops, glass breakers, and pry tools, into the knives. The interchangeable backspacer assembly includes a pair of standoffs, a backspacer and a locking set screw. The standoffs are connected between the side members of the knife handle to form an opening for receiving the backspacers at the distal end of the handle. The backspacers are held in place by a locking set screw turned into a threaded bore in the backspacer.