An adjustable male condom securely retains the male condom on the penis of the wearer, thereby effectively preventing unwanted pregnancy and protecting against communicable diseases transmitted by the exchange of bodily fluids. The adjustable male condom includes a flaccid pouch made of an elastic, thin, disposable film material that is impervious to bodily fluids. The flaccid pouch includes an elongate, hollow, generally cylindrical body defining a longitudinal axis and having a first end and a closed second end. The adjustable male condom further includes a flaccid pouch harness attached to the first end of the body of the flaccid pouch. The flaccid pouch harness includes an annular retaining ring and a pair of elongate retaining straps. Each of the retaining straps has a first end attached to the retaining ring and a second end that remains unattached. Preferably, the retaining ring has a gap formed therein between the pair of retaining straps. In a preferred embodiment, the flaccid pouch harness further includes at least one grommet positioned on the pair of retaining straps for cinching the retaining straps tightly against the base of the wearer's penis or behind the scrotum of the wearer. The at least one grommet may have a single hole or a pair of holes formed therethrough for receiving the pair of retaining straps therein. Each of the retaining straps may also have a helical groove forming a helical ridge thereon for increasing the friction force between the grommet and the retaining straps.