The utility model discloses an arthroscope with an adjustable observation angle. The endoscope lens barrel comprises a lens barrel body, and an endoscopic soft lens and an endoscope optical fiber light source which are arranged in the lens barrel body, wherein the lens cone body comprises a front sleeve, a rear sleeve and a handle which are connected in sequence; the front sleeve is hinged with the rear sleeve; an adjusting sliding block is arranged in the handle in a sliding mode. A connecting rod is arranged on the front sleeve; the connecting rod penetrates through the rear sleeve and is connected with the adjusting slide block; the connecting rod is driven by the sliding chute to axially slide in the lens cone body; correspondingly, the endoscopic soft lens and the endoscope optical fiber light source part which are located in the front sleeve also move along with the front sleeve, then the observation angle and the observation range of the arthroscope are adjusted, and the arthroscope has the advantages of being simple in structure and convenient to operate.