A rotating blade food preparation device (10) for cutting, shaving, slicing, and peeling, vegetables and fruits, cheese, tofu, bread, and other food products, includes a handle (12), a frame element (16) connected to the handle (12), and a rotating blade assembly (28) operably secured to the frame. The rotating blade assembly (28) has one or more cutting elements (30) for cutting, slicing, shaving and peeling fruits, vegetables, cheese and other foods. The rotating blade assembly (28) is operably secured to the frame (16) by a shaft (18) allowing both movement and positioning of the blade assembly at various angles in relation to the frame (16), and fixing the rotating blade assembly (28) in a desired position for use.