A light source device and a projector are provided, and the light source device has high light utilization efficiency. Further, the projector has the light source device. A light source device includes a first light source configured to emit excitation light in a first wavelength band and a wavelength conversion member having a plurality of surfaces and configured to convert the excitation light made incident from the first light source into converted light in a second wavelength band different from the first wavelength band. The wavelength conversion member includes a first surface on which the excitation light is made incident, a second surface opposed to the first surface, and a third surface that emits the converted light. A first reflection layer that transmits the excitation light and reflects the converted light is provided on the first surface.