diff --git a/export/progress.md b/export/progress.md
index 8fd9947..029df2b 100644
--- a/export/progress.md
+++ b/export/progress.md
@@ -52,11 +52,11 @@
 - [x] T10: Creare model ApiToken (SQLAlchemy) - ✅ Completato (2026-04-07 11:15)
 - [x] T11: Setup Alembic e creare migrazione iniziale - ✅ Completato (2026-04-07 11:20)
 
-### 🔐 Servizi di Sicurezza (T12-T16) - 2/5 completati
+### 🔐 Servizi di Sicurezza (T12-T16) - 3/5 completati
 - [x] T12: Implementare EncryptionService (AES-256) - ✅ Completato (2026-04-07 12:00, commit: 2fdd9d1)
 - [x] T13: Implementare password hashing (bcrypt) - ✅ Completato (2026-04-07 12:15, commit: 54e8116)
-- [ ] T14: Implementare JWT utilities - 🟡 In progress
-- [ ] T15: Implementare API token generation
+- [x] T14: Implementare JWT utilities - ✅ Completato (2026-04-07 12:30, commit: 781e564)
+- [ ] T15: Implementare API token generation - 🟡 In progress
 - [ ] T16: Scrivere test per servizi di encryption
 
 ### 👤 Autenticazione Utenti (T17-T22) - 0/6 completati
diff --git a/src/openrouter_monitor/services/token.py b/src/openrouter_monitor/services/token.py
new file mode 100644
index 0000000..909ba30
--- /dev/null
+++ b/src/openrouter_monitor/services/token.py
@@ -0,0 +1,84 @@
+"""API token generation and verification service.
+
+This module provides secure API token generation using cryptographically
+secure random generation and SHA-256 hashing. Only the hash is stored.
+"""
+
+import hashlib
+import secrets
+
+
+TOKEN_PREFIX = "or_api_"
+TOKEN_ENTROPY_BYTES = 48  # Results in ~64 URL-safe base64 chars
+
+
+def generate_api_token() -> tuple[str, str]:
+    """Generate a new API token.
+
+    Generates a cryptographically secure random token with format:
+    'or_api_' + 48 bytes of URL-safe base64 (~64 chars)
+
+    Returns:
+        Tuple of (plaintext_token, token_hash) where:
+        - plaintext_token: The full token to show once to the user
+        - token_hash: SHA-256 hash to store in database
+
+    Example:
+        >>> plaintext, hash = generate_api_token()
+        >>> print(plaintext)
+        'or_api_x9QzGv2K...'
+        >>> # Store hash in DB, show plaintext to user once
+    """
+    # Generate cryptographically secure random token
+    random_part = secrets.token_urlsafe(TOKEN_ENTROPY_BYTES)
+    plaintext = f"{TOKEN_PREFIX}{random_part}"
+
+    # Hash the entire token
+    token_hash = hash_token(plaintext)
+
+    return plaintext, token_hash
+
+
+def hash_token(plaintext: str) -> str:
+    """Hash a token using SHA-256.
+
+    Args:
+        plaintext: The plaintext token to hash.
+
+    Returns:
+        Hexadecimal string of the SHA-256 hash.
+
+    Raises:
+        TypeError: If plaintext is not a string.
+    """
+    if not isinstance(plaintext, str):
+        raise TypeError("plaintext must be a string")
+
+    return hashlib.sha256(plaintext.encode("utf-8")).hexdigest()
+
+
+def verify_api_token(plaintext: str, token_hash: str) -> bool:
+    """Verify an API token against its stored hash.
+
+    Uses timing-safe comparison to prevent timing attacks.
+
+    Args:
+        plaintext: The plaintext token provided by the user.
+        token_hash: The SHA-256 hash stored in the database.
+
+    Returns:
+        True if the token matches the hash, False otherwise.
+
+    Raises:
+        TypeError: If either argument is not a string.
+    """
+    if not isinstance(plaintext, str):
+        raise TypeError("plaintext must be a string")
+    if not isinstance(token_hash, str):
+        raise TypeError("token_hash must be a string")
+
+    # Compute hash of provided plaintext
+    computed_hash = hash_token(plaintext)
+
+    # Use timing-safe comparison to prevent timing attacks
+    return secrets.compare_digest(computed_hash, token_hash)
diff --git a/tests/unit/services/test_token.py b/tests/unit/services/test_token.py
new file mode 100644
index 0000000..6cf5f5a
--- /dev/null
+++ b/tests/unit/services/test_token.py
@@ -0,0 +1,294 @@
+"""Tests for API token generation service - T15.
+
+Tests for generating and verifying API tokens with SHA-256 hashing.
+"""
+
+import hashlib
+import secrets
+
+import pytest
+
+
+pytestmark = [pytest.mark.unit, pytest.mark.security]
+
+
+class TestGenerateAPIToken:
+    """Test suite for generate_api_token function."""
+
+    def test_generate_api_token_returns_tuple(self):
+        """Test that generate_api_token returns a tuple."""
+        # Arrange
+        from src.openrouter_monitor.services.token import generate_api_token
+
+        # Act
+        result = generate_api_token()
+
+        # Assert
+        assert isinstance(result, tuple)
+        assert len(result) == 2
+
+    def test_generate_api_token_returns_plaintext_and_hash(self):
+        """Test that generate_api_token returns (plaintext, hash)."""
+        # Arrange
+        from src.openrouter_monitor.services.token import generate_api_token
+
+        # Act
+        plaintext, token_hash = generate_api_token()
+
+        # Assert
+        assert isinstance(plaintext, str)
+        assert isinstance(token_hash, str)
+        assert len(plaintext) > 0
+        assert len(token_hash) > 0
+
+    def test_generate_api_token_starts_with_prefix(self):
+        """Test that plaintext token starts with 'or_api_'."""
+        # Arrange
+        from src.openrouter_monitor.services.token import generate_api_token
+
+        # Act
+        plaintext, _ = generate_api_token()
+
+        # Assert
+        assert plaintext.startswith("or_api_")
+
+    def test_generate_api_token_generates_different_tokens(self):
+        """Test that each call generates a different token."""
+        # Arrange
+        from src.openrouter_monitor.services.token import generate_api_token
+
+        # Act
+        plaintext1, hash1 = generate_api_token()
+        plaintext2, hash2 = generate_api_token()
+
+        # Assert
+        assert plaintext1 != plaintext2
+        assert hash1 != hash2
+
+    def test_generate_api_token_hash_is_sha256(self):
+        """Test that hash is SHA-256 of the plaintext."""
+        # Arrange
+        from src.openrouter_monitor.services.token import generate_api_token
+
+        # Act
+        plaintext, token_hash = generate_api_token()
+
+        # Calculate expected hash
+        expected_hash = hashlib.sha256(plaintext.encode()).hexdigest()
+
+        # Assert
+        assert token_hash == expected_hash
+        assert len(token_hash) == 64  # SHA-256 hex is 64 chars
+
+    def test_generate_api_token_plaintext_sufficient_length(self):
+        """Test that plaintext token has sufficient length."""
+        # Arrange
+        from src.openrouter_monitor.services.token import generate_api_token
+
+        # Act
+        plaintext, _ = generate_api_token()
+
+        # Assert - or_api_ prefix + 48 chars of token_urlsafe
+        assert len(plaintext) > 50  # prefix (7) + 48 chars = at least 55
+
+
+class TestHashToken:
+    """Test suite for hash_token function."""
+
+    def test_hash_token_returns_string(self):
+        """Test that hash_token returns a string."""
+        # Arrange
+        from src.openrouter_monitor.services.token import hash_token
+
+        token = "test-token"
+
+        # Act
+        result = hash_token(token)
+
+        # Assert
+        assert isinstance(result, str)
+        assert len(result) == 64  # SHA-256 hex
+
+    def test_hash_token_is_sha256(self):
+        """Test that hash_token produces SHA-256 hash."""
+        # Arrange
+        from src.openrouter_monitor.services.token import hash_token
+
+        token = "or_api_test_token"
+
+        # Act
+        result = hash_token(token)
+
+        # Assert
+        expected = hashlib.sha256(token.encode()).hexdigest()
+        assert result == expected
+
+    def test_hash_token_consistent(self):
+        """Test that hash_token produces consistent results."""
+        # Arrange
+        from src.openrouter_monitor.services.token import hash_token
+
+        token = "consistent-token"
+
+        # Act
+        hash1 = hash_token(token)
+        hash2 = hash_token(token)
+
+        # Assert
+        assert hash1 == hash2
+
+
+class TestVerifyAPIToken:
+    """Test suite for verify_api_token function."""
+
+    def test_verify_api_token_valid_returns_true(self):
+        """Test that verify_api_token returns True for valid token."""
+        # Arrange
+        from src.openrouter_monitor.services.token import (
+            generate_api_token,
+            verify_api_token,
+        )
+
+        plaintext, token_hash = generate_api_token()
+
+        # Act
+        result = verify_api_token(plaintext, token_hash)
+
+        # Assert
+        assert result is True
+
+    def test_verify_api_token_invalid_returns_false(self):
+        """Test that verify_api_token returns False for invalid token."""
+        # Arrange
+        from src.openrouter_monitor.services.token import (
+            generate_api_token,
+            verify_api_token,
+        )
+
+        _, token_hash = generate_api_token()
+        wrong_plaintext = "wrong-token"
+
+        # Act
+        result = verify_api_token(wrong_plaintext, token_hash)
+
+        # Assert
+        assert result is False
+
+    def test_verify_api_token_wrong_hash_returns_false(self):
+        """Test that verify_api_token returns False with wrong hash."""
+        # Arrange
+        from src.openrouter_monitor.services.token import (
+            generate_api_token,
+            verify_api_token,
+        )
+
+        plaintext, _ = generate_api_token()
+        wrong_hash = hashlib.sha256("different".encode()).hexdigest()
+
+        # Act
+        result = verify_api_token(plaintext, wrong_hash)
+
+        # Assert
+        assert result is False
+
+    def test_verify_api_token_uses_timing_safe_comparison(self):
+        """Test that verify_api_token uses timing-safe comparison."""
+        # Arrange
+        from src.openrouter_monitor.services.token import (
+            generate_api_token,
+            verify_api_token,
+        )
+
+        plaintext, token_hash = generate_api_token()
+
+        # Act - Should not raise any error and work correctly
+        result = verify_api_token(plaintext, token_hash)
+
+        # Assert
+        assert result is True
+
+    def test_verify_api_token_empty_strings(self):
+        """Test verify_api_token with empty strings."""
+        # Arrange
+        from src.openrouter_monitor.services.token import verify_api_token
+
+        # Act
+        result = verify_api_token("", "")
+
+        # Assert
+        assert result is False
+
+
+class TestTokenFormat:
+    """Test suite for token format validation."""
+
+    def test_token_contains_only_urlsafe_characters(self):
+        """Test that token contains only URL-safe characters."""
+        # Arrange
+        from src.openrouter_monitor.services.token import generate_api_token
+
+        # Act
+        plaintext, _ = generate_api_token()
+        token_part = plaintext.replace("or_api_", "")
+
+        # Assert - URL-safe base64 chars: A-Z, a-z, 0-9, -, _
+        urlsafe_chars = set(
+            "ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqrstuvwxyz0123456789-_"
+        )
+        assert all(c in urlsafe_chars for c in token_part)
+
+    def test_hash_is_hexadecimal(self):
+        """Test that hash is valid hexadecimal."""
+        # Arrange
+        from src.openrouter_monitor.services.token import generate_api_token
+
+        # Act
+        _, token_hash = generate_api_token()
+
+        # Assert
+        try:
+            int(token_hash, 16)
+        except ValueError:
+            pytest.fail("Hash is not valid hexadecimal")
+
+    def test_generated_tokens_are_unique(self):
+        """Test that generating many tokens produces unique values."""
+        # Arrange
+        from src.openrouter_monitor.services.token import generate_api_token
+
+        # Act
+        tokens = [generate_api_token()[0] for _ in range(100)]
+
+        # Assert
+        assert len(set(tokens)) == 100  # All unique
+
+
+class TestTokenTypeValidation:
+    """Test suite for type validation in token functions."""
+
+    def test_hash_token_non_string_raises_type_error(self):
+        """Test that hash_token with non-string raises TypeError."""
+        # Arrange
+        from src.openrouter_monitor.services.token import hash_token
+
+        # Act & Assert
+        with pytest.raises(TypeError, match="plaintext must be a string"):
+            hash_token(12345)
+
+    def test_verify_api_token_non_string_plaintext_raises_type_error(self):
+        """Test that verify_api_token with non-string plaintext raises TypeError."""
+        # Arrange
+        from src.openrouter_monitor.services.token import verify_api_token
+
+        # Act & Assert
+        with pytest.raises(TypeError, match="plaintext must be a string"):
+            verify_api_token(12345, "valid_hash")
+
+    def test_verify_api_token_non_string_hash_raises_type_error(self):
+        """Test that verify_api_token with non-string hash raises TypeError."""
+        # Arrange
+        from src.openrouter_monitor.services.token import verify_api_token
+
+        # Act & Assert
+        with pytest.raises(TypeError, match="token_hash must be a string"):
+            verify_api_token("valid_plaintext", 12345)