An endoscope whose magnification may be continuously varied from zero to a microscopic magnification of 40.times. or more while providing full correction for aberrations at widely different magnifications. The objective comprises a positive lens group in a microscope objective configuration, and a front group which typically includes a negative lens generally near the focal plane of the positive lens group. To achieve high magnification, the objective is moved away from the transfer optics, and placed in contact with the object to be viewed. In such a configuration, the positive lens group functions as a microscope objective while the negative lens group's contribution to the aberrations is small. At low magnification, the negative lens group cooperates with the positive lens group to provide a wide angle lens. Pupil stabilization is achieved by placing the physical stop so that when the endoscope is used in the microscope mode, the physical stop between the positive and negative lens groups is ineffective or marginally effective. This permits the maximum numerical aperture consistent with the physical diameter of the positive lens group. However, the physical stop between the positive and negative lens groups comes into play when the object plane moves away from the negative lens group. The field lens located at the image plane receives the marginal chief ray at a nearly constant small angle over the entire range of magnification. This allows image transfer to be achieved with conventional means such as alternating field and relay lenses.