Abstract: Apparatus is described for a pelletizer having hydraulically adjustable pressing rolls. Specifically, each pressing roll is mounted in two bearing journals and is eccentrically located with respect thereto. The pelletizer includes a hydraulically actuated device for adjusting the position of the outer surface of the pressing rolls relative to the inner surface of the mold, wherein this device utilizes at least one hydraulic cylinder having an end that is connected to a bearing journal which is, in turn, attached to a shaft of a pressing roll. In addition, the pelletizer also includes a hydraulically actuated device for clamping the rolls into a desired position. Oil supply and discharge pipes for each hydraulic cylinder extend through a main shaft of the pelletizer. Through this apparatus, the position of the pressing rolls can be controllably adjusted while the pelletizer is operating, i.e. while the annular press mold is rotating.