The invention discloses a sewage treatment method capable of adjusting the nitrogen and phosphorus removal capability, and belongs to the field of sewage treatment. The sewage treatment method has theadvantages that sewage sequentially passes through a reaction tank and a secondary sedimentation tank, so that nitrogen and phosphorus removal is enhanced, when an overrun sludge operation mode is adopted, the total phosphorus removal rate is greater than 90%, or the effluent TP is less than 1 mg/L, delta BOD/delta TN is less than 4, the maximum flow flux of each area in a system does not exceed2.2Q, the phosphorus content in sludge of the returned sludge is greater than 4%, high-efficiency nitrogen and phosphorus removal is realized, the operation is energy-saving and low-carbon, the load is high, the occupied area is saved, denitrifying phosphorus removal is realized, the TN removal rate is not limited by the reflux ratio, the control is simple, the operation management is convenient,and the like; and the system is composed of the reaction tank, the secondary sedimentation tank and a connecting pipeline, the reaction tank is sequentially provided with a pre-anoxic area, an anaerobic area, a middle sedimentation area, an aerobic nitrification area, a denitrification area, an aerobic decarbonization area and a water outlet area from a water inlet end to a water outlet end, the connecting pipeline comprises a main water inlet pipe, a branch water inlet pipe, a water outlet pipe, a sludge overrun pipe, a sludge return pipe, a residual sludge discharge pipe and the like, and the process flow is simple.