A surgical instrument is disclosed for use in a wide variety of roles including grasping, dissecting, clamping, or retracting materials or tissue during surgical procedures performed either in open surgery or within the abdominal cavity. The surgical instrument includes a handle portion, a tubular body portion extending from the handle portion and defining a longitudinal axis, and tool structure associated with a distal portion of the tubular body portion. A rotation assembly is provided for effectuating rotation of the tool structure about the longitudinal axis of the body portion. Rotation locking structure is provided to lock the rotation assembly at a predetermined orientation such that it cannot be rotated with respect to the handle.