A carton cutting tool for cutting and opening a sealed peaked top of a paperboard carton comprises a first blade attached to a first handle and a second blade attached to a second handle. The first and second blades are pivotally coupled at respective distal ends thereof relative to a user and are movable between open and closed configurations in response to corresponding movements of the first and second handles. At a closed configuration, the second blade overlies the first blade while the second blade is offset approximately 90 degrees from the first blade at the open configuration. The first blade defines a slot extending longitudinally therealong for receiving the peaked top of a carton therein. One longitudinal edge of the slot presents a sharp cutting edge. The second blade includes a slightly convex cutting edge such that a peaked top of a carton that is positioned in the slot is pinched and severed upon a movement of the second blade between open and closed configurations.