A vehicular camera module includes a lens barrel having a plurality of optical elements accommodated therein, a front camera housing portion, and a rear camera housing portion mated with the front camera housing to form a housing that encases an imager printed circuit board and a processor printed circuit board. A heat transfer element is disposed between and in thermal conductive contact with the imager printed circuit board and a rear wall of the rear camera housing. The heat transfer element extends through an aperture of the processor printed circuit board. Circuitry of the camera module is electrically connected to electrical connecting elements that electrically connect to a wire harness of a vehicle when the camera module is disposed at the vehicle. Heat generated by operation of the vehicular camera module is drawn from the imager printed circuit board to the rear camera housing portion via the heat transfer element.