A method, system, and program for adjusting the size of a file system and an inline file system log housed in a static logical volume. A computer system includes a logical volume allocated between an file system and its inline file system log. A request is received to adjust the inline log from a current size to a new size while maintaining the size of the logical volume. Storage space is then allocated from within the logical volume to the inline log according to the storage requirement for the new size. Allocating storage space may require decreasing or increasing the amount of storage formerly allocated to the inline log. Then, the inline log is reformatted to the allocated storage space, such that the storage allocated to the inline log for a file system is adjusted while the size of the logical volume housing the inline log and file system remains static.