An adjustable folding chair is configured to include a central chair portion defining a pair of seat back mounting sections, a pair of front leg mounting sections, a pair of rear leg mounting sections, and a seat surface. A seat back is mounted on the seat back mounting sections for vertical movement to position the seat back at a desired position above the seat. Front and rear leg extensions are mounted on the front and rear leg mounting sections for vertical movement. A locking mechanism is housed in a horizontal strut in the front and rear leg extensions to control the positioning thereof. The locking mechanism includes a pair of opposing spring-biased locking pins and an actuator connected thereto that projects from the strut for engagement by the user. Such a chair construction permits the seat surface to be oriented in a plurality of discrete positions for comfortable utilization.