For tube dimensions monitoring bulk and expansive optic-electronic or ultrasonic devices are used. Therefore development of new simple and inexpensive multifunctional optic-electronic device for measuring a cylinder tube radius or elliptic tube semiaxes in a real time mode are considered in the paper. Device contains digital camera, structural light source, computing and indicating units. Basic mathematical principles of device functioning are given. Device works correctly nevertheless the altering tube position or vibration and so different space between tube and device while continuous manufacturing process. Moreover device can recognize and evaluate different surface defects such as flushnesses and gaps in a real time mode. Three measuring heads (videocamera and light source) together with computing and indicating units can monitor tube surface all around including tube dimensions monitoring (only one measuring head for tube dimensions monitoring). Device features no installation difficulties, high accuracy, long lifetime, guarantee time technical support and inexpensive post-guarantee service.