The invention provides an integrated water heater with adjustable assembly. The integrated water heater comprises an installation bottom shell, a heating protective shell, a control panel and a heating main body, wherein the heating main body is installed in the heating protective shell, an adjusting assembling unit for adjusting the installation level of the heating protective shell are arrangedin the installation bottom shell, the assembling unit is distributed on the outer side surface of the heating protective shell, the heating protective shell is provided with a protective cover which is positioned and installed on the heating protective shell, the protective cover is provided with a quick installing hole, the control panel is provided with a fastening column and a sealing layer, the fastening column is fastened in the quick installing hole, and meanwhile, the sealing layer is hermetically connected between the control panel and the protective cover. According to the integratedwater heater, the structural stability is high, the control panel can be quickly assembled and disassembled, the influence of the assembling environment is reduced, the assembling precision is improved, meanwhile, the internal sealing performance is enhanced, the vapor influence is reduced, the service life of the integrated water heater is prolonged, and the use quality of the integrated water heater is guaranteed.