An earphone with adjustable volume of a front chamber between a speaker and a housing is provided, which includes a speaker unit, a housing and a movable element. The speaker unit is disposed within the housing, and the housing includes an earplug formation formed in front of the speaker unit. A chamber within the earplug formation has a volume, and the movable element is disposed on the housing and moves correspondingly with the chamber, so as to adjust the volume of the chamber. Therefore, the frequency response of the sound sent by the speaker unit varies depending upon the variation of the volume of the chamber.