An adjustable rehabilitation and exercise device, including a rotary member having a plurality of elongated and spaced apart elongated open-ended slots defined thereon, each slot including a plurality of enlargements along the length thereof. A mount is selectively and movably positionable on a selected one of the slots of the rotary member to select an angular location of the mount. The mount includes a slide member movably positionable along the selected slot to a selected radial location along the selected slot to select a radial location of the mount relative to the hub of the rotary member. The mount includes a movable pin having an enlarged head. The pin is positionable to selectively engage the enlarged head thereof within the enlargements of the slot so as to lock the position of the mount along the slot. A patient engagement member is connectable to the mount and movable with the mount.