Analytical explicit solutions are presented for the use of square wave voltammetry (SWV) at disc microelectrodes to study two-electron reversible redox processes. This combines the advantages of SWV (minimization of capacitative effects, peak-shaped response and quick experiments) with those of microelectrodes (reduction of capacitative and ohmic drop effects, enhanced mass transport and measurements of small volumes). Further, the analytical expressions are very easy to implement in comparison with the numerical methods usually employed for simulation of electrochemical experiments at microdisc electrodes. From the theory, the effects of the technique parameters (frequency, pulse amplitude) are examined and procedures are given for the characterization of the redox system from the values of the peak current, peak potential and half-peak width. Finally, the theory is applied to the experimental study of the two-electron reduction of anthraquinone-2-sulfonate in aqueous media. For this system, the formal potentials of the redox centres in aqueous solutions can be tuned by means of the electrolyte cation.