The invention discloses a light source device. The light source device comprises a first light source module, a lens group, a first light homogenizing part, a first light combining device and a wavelength conversion device; the first light source module is used for emitting a first light beam with a first wavelength; the lens group and the first light homogenizing part are located on a transmission path of the first light beam, the lens group is used for converging the first light beam, the first light homogenizing part is sued for homogenizing the first light beam and emitting a second lightbeam formed after homogenization into the first light combining device, and the first light combining device is located at the focus position of the lens group; the wavelength conversion device is arranged on a transmission path of a third light beam emitted by the first light combining device and used for generating stimulated light with a second wavelength after simulation. By means of the lightsource device, the area of a region required for extension-amount light splitting of the first light combining device is reduced, and the uniformity and efficiency of a system are improved. The invention further provides projection equipment including the light source device.