A coaxial electrode probe that uses the principle of bipolar coagulation is introduced to ophthalmic microsurgery. The central, or axial, electrode is insulated with silicone from the surrounding outer, or coaxial, diameter electrode. The probe uses available bipolar electrode cautery power and control sources. The distance between the electrode is fixed. Therefore, uniform and repeatable coagulations are attained under controlled power settings. Unwanted microscopic scleral shrinkage is eliminated, while desired scleral shrinkage is controlled. Precise pinpoint coagulations of individual capillaries are routine, especially at corneoscleral incision sites. Higher power settings produce a desired scleral marker in retinal surgery.