An adjustable LED display module is provided, including a plurality of light-emitting units, and at least a set of spacing adjusting mechanism. The spacing adjusting mechanism is of a retractable grid-like structure or a retractable mesh-structure. The plural light-emitting units are distributed on different locations of the components of the spacing adjusting mechanism. When the spacing adjusting mechanism operates to adjust the spacing, at least spacing between some neighboring light-emitting units will change so that the location after adjustment will vary. Hence, the display module will have different form factor and light dots arrangement to provide higher flexibility for various application environments and conditions as well as convenience for storage and transportation when contracted.