To provide a light source device having high luminance efficiency and achieving power saving, and a projector including the light source device.

The projector includes: the light source device 63; a display element; a cooling fan; a light source side optical system for guiding light from the light source device 63 to the display element; a projection side optical system for projecting an image emitted from the display element to a screen; and a projector control means for controlling the light source device 63 and the display element. The light source device 63 includes: a rotating plate having a plurality of segment areas in which a phosphor layer 131 receiving exciting light and emitting light of a predetermined wavelength band is arranged on a circular base material 130 which can be rotated and controlled; and an exciting light source 70 including two or more light source bodies 72 emitting the exciting light of the predetermined wavelength band so as to project at least two kinds of light of different wavelength bands. Two or more kinds of phosphor layers 131 are arranged in the rotating plate, and the exciting light source 70 is turned on or off to be linked with rotation of the base material 130 so that each of the light source bodies 72 may radiate the exciting light only to the corresponding phosphor layer 131.

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