A bicycle hub includes a hub axle, a hub body, a bearing unit and a lock member. The hub axle is configured and arranged to be non-rotatably coupled to the bicycle frame by a mounting shaft. The hub body has a generally cylindrical shape mounted adjacent to an external perimeter of the hub axle. The bearing unit is installed between the hub body and the hub axle at one axial end portion of the bicycle hub so that the hub body freely rotates with respect to the hub axle. The bearing unit includes an outer ring, an inner ring and a plurality of rolling components. The lock member is configured and arranged to retain an axial position of the outer ring of the bearing unit with respect to the hub body by locking the outer ring in one of a plurality of rotational positions.