The invention discloses a broad ground clearance adjustable chassis and an adjusting method. The adjustable chassis is composed of a frame, a front axle, a rear axle, a power system, a swinging ground clearance adjusting system, a balanced and steady regulating system and the like. The swinging ground clearance adjusting system comprises a controller, a servo valve, swinging hydraulic cylinders and the like. The balanced and steady regulating system comprises gyroscopes, controllers, servo valves, swinging hydraulic cylinders and the like, wherein the gyroscopes, the controllers, the servo valves, the swinging hydraulic cylinders and the like are arranged on the front axle and the rear axle. The power system comprises an engine, a clutch, a pump station, a hydraulic motor, a proportional valve, front wheels, rear wheels and the like. The controllers control the servo valves to adjust the four swinging hydraulic cylinders to synchronously ascend and descend so as to stably change the ground clearance of the chassis, even the ground clearance of the chassis can be smaller than the radius of the wheels so that the ultra-low ground clearance of the chassis can be achieved. The balanced and steady controllers control the flow of the swinging hydraulic cylinders through the servo valves respectively according to unbalanced and unsteady signals of the front axle and the rear axle collected by the gyroscopes, and therefore the chassis can be automatically adjusted to be balanced and steady.