A tool cabinet includes a cabinet body, a hanging board having a plurality of hanging portions, two slide rail units, and at least one counterweight device. Each of the slide rail units is connected between the cabinet body and the hanging board and extends in an up-down direction, such that the hanging board is movable in the up-down direction relative to the cabinet body between a lifted position and a lowered position. The counterweight device includes a constant force spring having free and fixed ends that are respectively connected to the hanging board and the cabinet body, and providing a resilient force against the weight of the hanging board during movement between the lifted and lowered positions.