An adjustable flotation device is a device that is utilized to support the users body in a variety of supported positions when the user is floating in a body of water. The device features an upper support member and a lower support member that are connected by a first adjustable strap and a second adjustable strap. The lengths of the first adjustable strap and the second adjustable strap may be adjusted to allow the user to utilize the present invention in a variety of supported positions. An at least one upper flotation aid and a lower flotation aid are utilized in conjunction with the upper support member and the lower support member in order to provide buoyancy to the device when in water. The upper support member and the lower support member may be separated from the first adjustable strap and the second adjustable strap for portability and storage.