A reversible ratchet tool includes a rotary member received in a housing and having a number of teeth, a cover secured to the housing and having three depressions located around an axle, two pawl members mounted in the housing and each having one or more teeth for being biased to engage with the rotary member, an actuating member pivotally attached to the axle and having a projection for engaging with either of the depressions of the cover, and a hand grip coupled to the actuating member for actuating the actuating member to engage with the pawl members and to control the rotating direction of the rotary member by the housing, and for allowing the rotary member to be rotated in both directions by the housing selectively.