A bubble generating device and a washing machine equipped with the bubble generating device. The washing machine includes a water tub into which water is introduced, a bubble generating device to generate bubbles and supply the bubbles into the water tub, a pump to suck water from the water tub and supply the water into the bubble generating device, and a connecting pipe having an end connected to the bubble generating device and the other end connected to the water tub. The other end of the connecting pipe is located above a water level in the water tub. The bubble generating device selectively performs a bubble generating process in which bubbles are generated and supplied into the water tub, or a water circulating process in which water from the water tub circulates through the connecting pipe and flows back to the water tub.