A telescopic light source electrosurgical pencil comprises a handle with a control circuit internally configured. One end of the handle is connected to a cutter head. Two sides of a joint by which the handle is connected to the cutter head are both provided with an LED lamp I and an LED lamp II parallelly arranged on the handle. The handle is provided with an electric cutting switch and an electric coagulation switch, the other end of the handle being provided with an LED lamp switch for controlling the LED lamps. The handle is further connected to a cable, the cable being connected to a plug connected to an electric cutter machine and a power adapter connector. This telescopic light source electrosurgical pencil employs a structure of parallelly arranged LED lamps for illumination, which effectively improves the luminance of the surgical view and thus brings great convenience to surgeries.