An anti-microbial liquid ophthalmic composition for direct application onto an eye of a living being. The composition includes from about 0.02 wt. % to about 0.20 wt. % chlorite compound and from about 0.005 wt. % to about 0.01 wt. % peroxy compound, at a pH between about 7.0 and 7.8. Preferably, the chlorite compound is a metal chlorite where the metal is chosen from the group consisting of sodium, potassium, calcium, and magnesium, while the peroxy compound is hydrogen peroxide. Also included are methods for treating an eye infection through application of the composition to the eye, and for cleansing a contact lens in place on an eye through application of the composition to the lens.