The invention discloses a mixedly adjusting type adjustable reactor comprising a machinery adjusting system and an excitation adjusting system; the machinery adjusting system inserts a rotary iron core in a main magnetic circuit, and uses an external motor to drive and control a rotary angle of the rotary iron core, thus adjusting magnetic resistance of the main magnetic circuit, and adjusting reactance. The excitation system assembles an excitation iron core and an excitation winding penetrating a main winding iron core, and uses an external electric power electron transverter to control current passing the excitation winding, thus controlling magnetic flux passing the main winding, and adjusting the reactance. The two reactance adjusting system can mutually be redundancy so as to improve reliability, and can mutually cooperate so as to improve a control precision; the mixedly adjusting type adjustable reactor is high in adjusting precision and high in reliability.