The disclosure relates to an adjustable rotary cutting head for use in jointers, planers, and other similar machines with rotary cutting heads. The rotary cutting head is mounted for rotation in a fixed shaft. The cutting head is adjusted vertically by means of an eccentric portion which raises and lowers the shaft as the eccentric member is rotated. The shaft is adjusted laterally by means of a threaded bore and adjustment screw which moves the shaft axially as the adjustment screw is rotated. Means are provided for indexing the relative rotation of the eccentric member.