A pectus bar extraction tool for removing a pectus bar having posterior and anterior sides includes a handle, an engagement member fixed to and extending from the handle for extending from the anterior to the posterior sides of the pectus bar to engage the posterior side of the pectus bar, and a lever arm fixed to and extending from the handle opposite to the engagement member for engaging the pectus bar on the anterior side of the pectus bar. A system and method for removing a pectus bar are also disclosed.