The invention provides a light supply apparatus with high brightness, high contrast and high color saturation and projection display equipment which are used for a projection system. The light supply apparatus provided by the invention comprises a supplemental light source and a laser light source, and is characterized in that the light supply apparatus also comprises a reflecting mirror which comprises a reflecting surface. Lasers radiated by the laser light source is reflected by the reflecting surface of the reflecting mirror, and then mixedly output in the same direction with light radiated by the supplemental light source. The invention skillfully leads the laser of a laser device into the light bulb of the projection system and an LED illuminating source, and provides a new idea that the lasers and other light sources are mixedly taken as the lighting sources of the projection system, can successfully adjust the intensity distribution of tricolor of red, green, and blue, increases the performance such as illumination, color saturation, contrast and the like, and has very high utility value in the projection display field.