Abstract: An improved arthroscopic drill guide is disclosed herein including a frame having a probe fixedly mounted thereto. A slide member is slidably and adjustably mounted to an end of the frame remote from the end to which the probe is fixedly mounted. The slide member features a locking mechanism that enables the frame and slide assemblies to be fixed one to the other. The slide, at an end distal from its slidable mounting to the frame, has a guide portion into which is slidably mounted a cannula which is aligned with a tip portion of the probe. The cannula comprises a drill guide through which the drill bit is reciprocated so as to enable the drilling of holes for the purpose of ligament installation. The probe is specifically shaped so as to render the drill guide usable for the drilling of the femoral and tibial holes without the necessity of providing a separate probe for each hole which is to be drilled.