The measurement of hydraulic conductivity of unsaturated bentonite is very difficult because of the fact that the bentonite volume would expand and shrink with the increase and decrease of water contents, respectively. In this study, following instantaneous profiling method, a new multi-ring was applied in wetting apparatus to ascertain water diffusivities of Kunigel-V1 bentonite with different dry densities. Hydraulic conductivities of unsaturated Kunigel-V1 bentonite were calculated combining water diffusivities and soil water retention curves (SWRC). The SWRC was determined by immersing the 5mm-height Kunigel-V1 bentonite for different durations. Then, the total suction of the Kunigel-V1 bentonite was obtained with WP4C dew-point potentiometer. Then, the SWRC was fitted with VG model and the fitting parameter was used for the calculating of hydraulic conductivity during saturation. The results from this study can be concluded as: 1) It is found that water diffusivity decreases with the increasing water content; 2) The SWRC obtained by using the 5mm-height specimen can fitted well with the VG mode; 3) In the saturated state, the degree of saturation of Kunigel-V1 bentonite can exceed 100%, which can be explained as the water density in bentonite exceeds 1 g/cm³; 4) The hydraulic conductivity increases firstly with increasing water content and then decreases with the rise of water content; 5) The hydraulic conductivity of unsaturated Kungel-V1 decreases with increasing dry density.