A threaded bearing insert is removably installable within a correspondingly threaded bearing housing of a machine component, rather than pressing the bearings directly into the housing as is the conventional practice. Bearings are pressed into the insert of the present invention, with the insert being threaded into the bearing housing of the machine component. Tools for the installation and removal of the insert to and from the threaded bearing housing and for supporting the insert as bearings are pressed from or into the insert, are also provided. The present bearing insert is particularly valuable in relatively complex installations such as steering and suspension knuckles in front wheel drive automobiles, which would conventionally require hours of work for removal of the knuckle for bearing removal and replacement. The present invention allows the knuckle or other machine component to remain on the machine, thus greatly reducing the time required for bearing service.