Abstract: A combination adjustable jet valve for use in a spa, tub or the like, having a valve body and nozzle assembly which can be easily manipulated to adjust the water jet flow, aeration of the water jet and direction of the discharging water jet. A flush mounted control grip on the spa valve body can be rotated to vary the water jet from off to full flow positions. The valve nozzle can be pulled to an on position, allowing the valves venturi effect to draw air into the water flow and aerate the discharging water jet. Alternatively, the nozzle can be pushed into the off position such that air is no longer drawn into the water flow and the discharging water jet is no longer aerated. The nozzle is mounted into a ball socket type arrangement within the valve, allowing directional adjustment of the discharging water jet. Also disclosed is an embodiment where both the water and air are controlled through manipulation of the spa valve nozzle.