In this study, we demonstrate a handheld motion-compensated micro-forceps system using common-path swept source optical coherence tomography with highly accurate depth-targeting and depth-locking for Epiretinal Membrane Peeling. Two motors and a touch sensor were used to separate the two independent motions: motion compensation and tool-tip manipulation. A smart motion monitoring and guiding algorithm was devised for precise and intuitive freehand control. Ex-vivo bovine eye experiments were performed to evaluate accuracy in a bovine retina retinal membrane peeling model. The evaluation demonstrates system capabilities of 40 um accuracy when peeling the epithelial layer of bovine retina.