In this paper, the fabrication and characterization of multi‐drug‐loaded microparticles are demonstrated for topical glaucoma therapy. Specifically, latanoprost (“LAT”) and dexamethasone (“DEX”) are loaded in monodisperse microparticles (diameter ≈150 μm) of a biodegradable polymer–poly (lactic‐co‐glycolic) acid (PLGA)—using capillary microfluidics coupled with solvent evaporation. Both individual (LAT in PLGA and DEX in PLGA) and combined (LAT and DEX in PLGA) microparticle formulations are demonstrated. The morphology, size distribution and in vitro release kinetics are studied, and in vitro mucoadhesion of the formulated microparticles is also assessed. In addition, discussion is placed in how precise knowledge of the particle composition enabled by the microfluidic fabrication method and in vitro release rate measurements allow for facile topical formulation design and dose optimization. Such precision‐fabricated, multi‐drug loaded, sustained‐release microparticles are envisioned to serve as a promising platform for topical administration of ocular drugs. This could potentially reduce the frequency of eyedrop‐based drug administration from several times a day to merely once a day (or less), thus greatly facilitating patient compliance and adherence to a strict therapeutic drug regimen.