An intraocular drainage apparatus for treatment of glaucoma, a device to be used in the insertion of the drainage apparatus, and a method of controllably regulating intraocular pressure in glaucoma patients through the use of the drainage apparatus is described herein. The drainage apparatus is comprised of a tube capable of conducting fluid disposed between an inlet assembly, where aqueous humor enters the apparatus, and an outlet assembly, where aqueous humor exits the apparatus. The inlet assembly is comprised of a beveled tip and preferably an anchor. The beveled tip allows the drainage apparatus to be more easily inserted into an eyeball and the anchor, when employed, functions to hold the beveled tip of the inlet assembly within the anterior chamber of the eyeball. An opening in the beveled tip of the inlet assembly allows aqueous humor from the anterior chamber of the eyeball to flow through the inlet assembly, through the tube to ultimately drain through the outlet assembly, situated on the external surface of the eyeball, so as to be drained out of the eyeball onto the exterior surface of the eyeball. The inserting apparatus is comprised of an insertion prong attached to a first handle. The insertion prong has a sharp, beveled insertion point. The insertion prong also defines an aperture wherein a second prong is slideably received. The drainage apparatus is seated in the inserting apparatus and is positioned at a proper point in the eyeball. The inserting apparatus is then manipulated so that the second prong drives the drainage apparatus into the proper position within the eyeball. The drainage apparatus also provides for the use of micropore filters and/or valves to prevent infection and/or to predictably regulate the flow of aqueous humor from the anterior chamber of the eyeball to the surface of the eyeball, thereby allowing for post-surgical adjustment of the intraocular pressure within the eyeball. An apparatus for removing and replacing these filters and/or valves is also disclosed, as are alternative embodiments of the drainage apparatus and inserting apparatus.