An adjustable rehabilitation and exercise device, including a rotary member rotatably mounted on a hub; a mount having a ring located adjacent to the rotary member with a lock selectively engageable with the rotary member to lock the ring at an angular position relative to the rotary member, and an arm connected to the ring and extending radially relative to the rotary member and having a movable carriage associated therewith to move radially relative to the rotary member and lockable to position the carriage at a radial position relative to the rotary member; and a patient engagement member connected to the mount and movable with the carriage.