A system and method for dewatering a continuous stream of slurry at high flow rates demonstrates enhanced efficiency, economy and ease of operation. A stream of slurry is subject to continuous or continual measurement of flow rate and pulp density and the measurements are used to control the rate of addition of a flocculating agent to the slurry. The flocculated slurry is delivered to a dewatering unit where it is passed through a diffuser and evenly delivered to a tracking screen for filtering solids from a liquid filtrate. The pulp density of the filtrate may also be measured and used to control addition of a flocculating agent. The tracking screen is adjusted to achieve an angle of repose suited to the particular composition of the filter cake. The diffuser has a base having a horizontal section aspect ratio of from about 1:1 to about 4:1 and continuously changing vertically into an upper portion having a horizontal section with an aspect ratio of from about 40:1 to about 100:1. The ratio of the horizontal sectional areas at the upper portion with respect to the base is from about 1:1 to about 3:1. The dewatering unit of the invention may be adjustably mounted on a transport means for deployment of the high speed dewatering system and method at any convenient location.