Slit dams are open-type structures used to mitigate debris-flow hazards by constricting the flow and attenuating the kinetic energy. However, slit dams are often filled up as they are designed to impede debris volume instead of reducing kinetic energy of debris flows. To better understand the regulation function of slit dams against debris flows, physical model tests were carried out using a 7-m-long flume. The water content and relative post spacing were varied to discern their influence on the regulation function. Results reveal that the velocity attenuation and trapping efficiency is strongly controlled by water content and relative post spacing. Water content fundamentally reflects the degree of liquefaction (effetive grain-contact stress) and capacity of energy dissipation of debris flows. When water content < 26%, relative post spacing has a noticeable effect on velocity attenuation, trapping efficiency, and run-out distance. In contrast, when water content ≥ 26%, the influence relative post spacing is negligible. Furthermore, a new relationship between velocity attenuation and trapping efficiency for the design of slit dams is proposed to avoid the slit dam being easily filled up by sediments contained in debris flows.