This work demonstrates an electrically-tunable nematic liquid crystal (NLC) diffraction grating with a periodic electrode structure, and discusses the polarization properties of its diffraction. The efficiency of the first-order diffraction can be gradually controlled by applying external electric fields cross the NLC, and the maximum diffraction efficiency of the first-order diffraction that can be obtained is around 12.5% under the applied voltage of 5.0 V. In addition to the applied electric field, the efficiency of the first-order diffraction can also vary by changing the polarized state of the incident beam. Antisymmetric polarization states with symmetrical intensities in the diffractions corresponding to the +1 and −1 order diffraction signals are also demonstrated.