This paper presents the results of research work on the revised design of a deep hole boring tool. The study was divided into three stages: theoretical, experimental and operational. In the theoretical part, a 3D model of the actual boring bar was created, which was subjected to strength tests using the Finite Element Method (FEM), and then prototypes of new deep hole boring tools were made with structural modifications to the shank part of the tool. For the polymer concrete core of a shank, there was a 14.59% lower displacement, and for the rubber-doped polymer concrete (SBR—styrene butadiene rubber) core of a shank there was a 4.84% lower displacement in comparison to the original boring bar. In the experimental part of the study, the original boring bar and the prototypes were subjected to experimental modal analysis and static analysis tests to compare dynamic and static properties. In the operational part of the study, boring tests were carried out for various workpiece materials, during which the basic parameters of the surface geometric structure (SGS), such as roughness Ra and Rz, were studied. Despite the promising preliminary results of the theoretical and experimental studies, using the described modifications to the boring bar is not recommended.