The invention provides a color wheel device, which comprises a wavelength conversion layer, a sealed enclosure, a heat exchanger, and a color wheel module, wherein a color wheel cavity is formed in the sealed enclosure, and the color wheel cavity comprises an air inlet and an air outlet; the heat exchanger is disposed inside the sealed enclosure and outside the color wheel cavity; a first heat exchange inlet and a first heat exchange outlet are arranged on the surface of at least one side, facing the wavelength conversion layer, of the heat exchanger; a corresponding air inlet channel and air outlet channel are disposed inside the heat exchanger; the first heat exchange inlet is configured to directly face the air inlet of the color wheel cavity, and the first heat exchange outlet is configured to directly face the air outlet; the color wheel module is disposed inside the color wheel cavity and configured to bear the wavelength conversion layer, and is used for providing power for an air flow to enter the air inlet of the color wheel cavity and exit from the air outlet. The color wheel device enables the hot air flow in the color wheel cavity to flow through at least one round-trip path between two end surfaces of the heat exchanger, thereby increasing a heat exchange area of the heat exchanger in contact with the air flow, increasing heat dissipating efficiency, and miniaturizing the color wheel device.