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Open the jaws and look inside. You'll see a fastener. Some have Phillips head or an allen wrench. Use the proper tool to turn the fastener counter clockwise to remove the fastener. You may have to help the chuck off the spindle if it sticks.
To remove the bit with a keyless chuck, just turn the chuck to
the right (looking from the handle to the front) to open the jaws. To
put in another bit, tighten the chuck to the left to close. You have to
use both hands. You will see where the ridged portion of the chuck is in
two sections. Hold on to the back section with your left hand to keep
it from turning while you turn the front section with your right hand.
lot of the time I just push the button to put the drill in reverse,
hold on the front section of the chuck and turn it on. It will loosen by
itself. Then when you put the new bit in, put it in forward and hold on
to the chuck and press the switch. The bit will be in nice and tight.
Please place a vote when you accept this solution. Thanks, Handie Andie
try tapping on all sides of the chuck lightly with a hammer and wiggling the bit... you can also try to spray some oil into the chuck and see if that loosens the bit for you... You can also clamp the bit in a vise (or get someone with a pair of pliers) and pull, that will sometimes do the trick.
If the chuck is stuck open and you cant "muscle" it closed something is probably jammed up in there and it needs to be replaced. Chucks take a good share of the abuse on power tools and most manufactuers consider them a "common wear item" like brake pads or Tires on your car. A chuck is fairly simple to replace if your drill stuck open and they are commonly replaced on the higher end "Industrial Grade" Power Tools like DeWalt and Milwaukee.
Looking at the Make and Model of your drill it would probably be easiest and most cost effective to just replace the entire drill. If you tried to replace the chuck and found a chuck that will fit your tool it may cost you anywhere from $25 - $40. For Around $40 you can purchase a new drill with a fresh battery.