The present invention is a dual function transfer tray that can be used for either a scalpel or a suturing needle holder with suturing needle. A scalpel slot is formed in the bottom of a relatively deep set of sloped walls. A suture needle cavity is formed above the first slot. However, at a mid-section of the scalpel slot and the half-cylindrical suture needle cavity are opposing and deep V-shaped cutaway sections in the sidewalls with a flat floor section between them. A user need never have to focus their attention for more than a split second to discern the location of the mid-section of the transfer tray. The user's thumb and forefinger are aimed at the V-shaped sidewall openings to grasp a midsection of a supported surgical sharps. The scalpel slot and half-cylindrical suture needle cavity are set relatively deep with respect to top edges of the transfer tray and the to form an open tray to prevent a user from being inadvertently injured by a scalpel blade or a suture needle. In addition, the scalpel cannot be placed in the scalpel slot unless it rests on one of its longitudinal edges, preferably the same one as that of its blade edge. Thus, a user grasping the mid-section of the scalpel handle in the cutaway and flat floor section picks up the scalpel in a ready-to-use position.