A cutter hub position control device for consistent blade adjustment in an underfluid pelletizer is provided in connection with a motion rod attached to the pelletizer cutter hub and extending through a hollow shaft of the pelletizer motor. The cutter hub position control device can be collinear, transaxial or in a plane parallel to the axis of the motion rod to which it is attached. Adjustment of the cutter hub position control device is automated through use of feedback control mechanisms.