The magnifying glass was first introduced in 1973 and featured a glass lens with an 8x magnification in a grey plastic housing. It only features in 91mm models, and always in the same layer as the in-line Phillips screwdriver, except on the Cybertool Lite and Swisschamp XAVT, where it is opposite the LED light module.

According to Victorinox the magnifier was changed to a new model in 2004 featuring a transparent plastic housing with a plastic lens and a magnification of 5x. This magnifier has a slightly wider area of view due to the slimmer housing and lower magnification. The in-line Phillips driver was replaced with the already shortened driver from models with the light module, to accommodate the new magnifying glass. This version started appearing in North America in 2007, likely due to the large amount of existing stock. However, the disparity in the dates is larger than usual for this type of transition.

In 2012 Victorinox changed the magnifier to use a glass lens with a 6x magnification, whilst retaining the clear plastic housing. Care must be taken with this version as it is possible for the glass lens to 'pop-out'. Note: This issue seems to have been fixed after a couple of years.

The Wenger magnifying glass is mounted in a long metal tool tipped with a fine flat screwdriver. The glass lens is smaller in size than the Victorinox model, giving a small field of vision, however it has a higher magnification of around 10x.

The specialised Minathor model includes a measurement scale in mm on the shaft of the magnifier and replaces the fine screwdriver with a medium sized springbar tool used to remove a wristwatch strap from a watch.

The specialised Bernina model has a magnetic screwdriver tip on the magnifying glass to pick up pins and needles.