The present invention is a fence stay drill bit used along with a drill to install and uninstall fence stays more efficiently. The present invention further encompasses a method of installing and uninstalling fence stays using the present invention. The present invention has a drill bit extrusion and an elongated body which houses a slot and a recess. In the preferred embodiment, the elongated body has a cylindrical body which is a safety feature in preventing the present invention from accidentally attaching itself onto objects in the surrounding during use. The elongated body is also attached to a large fillet and a stay receiving lip. Both the recess and the stay receiving lip help guide a tip of a fence stay into the slot therein. The slot has a cavity which traps and stabilizes the tip of fence stay while the present invention is rotated by the drill.
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