An adjustable drill microstop apparatus is employed with a drill and a drill bit to limit the depth of a hole drilled into an object surface by the drill bit. The apparatus has a housing and a nose piece that is mounted for reciprocating axial movement in accordance with a plurality of user selectable depths of cut. The nose piece projects from one end of the housing and is positioned adjacent the object surface to receive the drilled hole. The nose piece has an opening into which the drill bit is inserted, and an engagement surface that engages with the object surface during the drilling operation. During the drilling operation, the drill pushes the nose piece into the housing as the drill bit performs the drilling operation. A pre-selected distance that the nose piece reciprocates in the housing limits the depth of the hole drilled by the drill bit into the object surface.