An adjustable dumbbell device includes two weights engageable to a receptacle, and a handle mechanism includes a handle bar having two end housings, two tubular members are engaged between the housings and offset from each other and each include a bore for slidably receiving and engaging with a latch, the latches are extendible out of the tubular members for engaging with the weights and for retaining the weights to the housings, and two spring biased knobs are attached to the latches for actuating the latches to engage with the weights respectively. The tubular members each include a groove communicating with the bore of the tubular member for slidably engaging with the spring biased knob.