A target localizing and marking device is provided including a cannula having proximal and distal ends and a lumen therebetween, and a tip member releasably attached to the distal end, where the tip member includes and outer shell and at least one inner chamber. The device further includes at least one image enhancing component disposed on the outer shell and/or within the at least one inner chamber, at least one marking component disposed in the at least one inner chamber, and a tip member deployment mechanism. The deployment mechanism has a manually engageable actuator, a portion of which is dimensioned to slidably pass through the lumen of the cannula, and is operable to separate the tip member from the cannula and deploy the tip member to a predetermined target site. In some implementations, the device is magnetic resonance imaging (MRI) compatible and is identifiable under MRI.