An amphibious vehicle that may be driven directly between land and water includes a vehicle with an opposed pair of flotation side hulls and a rear hull. The side hulls are movable between a stowed position above the vehicle and a lowered deployed position outboard thereof. Each side hull is mounted by arm assemblies including an upright bracket fixed to the vehicle and an arm pivotally connected to the bracket that can be extended or retracted linearly by actuators to raise and lower the side hulls. A locking mechanism prevents the extended side hulls from moving laterally but allows vertical adjustment thereof. The side hulls may be horizontally adjusted between compact contracted and extended protracted positions. The rear hull assembly is pivotally mounted to the back of vehicle permitting raising and lowering thereof and includes jet drives providing propulsion for water operation.