I have a new countertop to be installed and am wondering, what's the best tool to use to cut the hole for the sink? I do not want to risk cracking or chipping the laminate.

If you had the counter made they should have cut the hole for you. If not you could take it to a counter shop and have it done. They will need the center line of the sink measured from both ends of the counter.

If your doing this yourself use your jig saw set on zero orbit. A good quality fine tooth blade
And the instructions on this web site. Remember to cut from the back side. Note the starter holes are done from the top side. Good luck...

Installing Kitchen Counters - Cutting Sink Hole In Laminate, Joining Corner Miters, L-Shape (http://www.hammerzone.com/archives/kitchen/countr/install2.html)

Thanks for the info. I will do my best. I never thought of having the hole cut for me, and the store I ordered from, never offered. Live and learn. :)