Lower the drill press spindle approximately 6 inches and then lock the drill press spindle in position. The spindle lock is usually located on the right side of the drill head. It is a metal lever. If you have trouble locating the lock on your drill press, consult the owner's manual. If the Jacobs chuck is mounted on a hand drill, skip this step.
Drill a 1/4-inch hole completely through the center of the tapered shaft that connects the drill chuck to the drill press spindle. Position the hole approximately 1/4 inch above the top of the drill chuck. The top of the chuck is the end farthest away from the three jaws.
Slide a 1/4-inch pin through the hole so the ends of the pin protrude from the tapered shaft. You may use the 1/4-inch drill bit since you will remove the pin once the task is completed.
Place a towel on the drill press table to protect the chuck from damage when you remove it.
Slide a wedged removal tool between the top of the drill chuck and the cross pin. The wedge has a notch cut into it to fit around the shaft of the drill chuck. After sliding the first wedge in place, slide a second wedge from the opposite side. You can purchase drill chuck removal wedges from online tool supply websites and from many tool retailers.
Drive each wedge inward by tapping the wedges with a hammer in an alternating pattern until the wedges separate the drill chuck from the tapered arbor. As you drive the wedges, the wedges push against the top of the chuck and the cross pin. This is what separates the drill chuck from the taper.
Pull the drill bit or cross pin out of the tapered shaft.