When the water level of upper or lower reaches of hydraulic power station changes, the adjustable jet pump which is different from traditional fixed jet pump can maintain stable pressure and flow rate for the system of technical water supply of hydraulic power plant. The model test indicates that the efficiency of the adjustable jet pump is slightly lower than fixed jet pump near rating operation point. With the decrease of opening degree, both efficiencies are more and more close to each other. The fundamental performance of I-type adjustable jet pump is better than II-type and the cavitation performance of I-type adjustable jet pump is worse than II-type. Test data also indicate that the performance of adjustable jet pump is very different from fixed jet pump, so the theory of fixed jet pump is not able to be copied to adjustable jet pump. It is necessary to farther study on the performance of the adjustable jet pump. This paper has reference value for analogous design of system of circulation water supply to turbine units in hydraulic power station.