A depth gauge for measuring the depth of a hole in a bone is disclosed having a digital readout for providing the measurement to a surgeon. The depth gauge has a probe with a tip inserted into and positioned proximate to the depth the hole, and has a reference member adjustably positioned relative the probe and against the bone proximate the hole. A measuring device is provided with the depth gauge for measuring the relative distance between the tip and the reference member, and the measuring device has a large, digital display for providing the relative distance.