The invention discloses a power-adjustable backward wave oscillator. The power-adjustable backward wave oscillator is characterized in that: by inserting upper and lower two rows of periodically complementary split-ring resonator structure into the middle part of a cavity of rectangular waveguide vertically, the complementary split-ring resonator structure has a relatively higher electric field resonant response at the slit of the opening, that is, between the horizontal branches of the two half parts, and shows the meta-material electromagnetic characteristic with a negative dielectric constant epsilon and a negative magnetic permeability Mu; longitudinal resonant field intensity is formed at the upper surface and lower surface of the periodically complementary split-ring resonator structure, thus being conductive to interaction between charged particles of band-shaped electron beams and electromagnetic waves; and at the same time, three electron beam channels are formed. Therefore, compared with a traditional relativism backward wave oscillator, the power-adjustable backward wave oscillator has higher coupling impedance and can obtain very high power output and electron efficiency. Besides, the structure enables one electron beam to work individually, or enables two electron beams or three electron beams to work, so that three kinds of adjustable power output of single beam, double beam and three-beam can be formed and then multi-band-shaped power can be adjustable.