Embodiments of this application disclose a camera module, including a module frame, and a camera lens, an image sensor, and an SMA motor that are stacked within the module frame. The SMA motor is located on an out-light side of the camera lens. The image sensor is located between the lens and the SMA motor and is fastened to the SMA motor. The SMA motor is configured to actuate the image sensor to shift on a plane perpendicular to an optical axis of the camera lens. An electronic device. The camera module actuates, by using the SMA motor, the image sensor to shift to implement optical image stabilization, which requires a low power consumption of the camera module. Embodiments of this application further provide an electronic device.