The present disclosure provides a camera module and a mobile terminal. The camera module includes: a first camera, a second camera, an optical image stabilization (OIS) chip and a bracket. The first camera and the second camera are embedded in the bracket. A height from a top surface of a lens of the first camera to a bottom surface of the first camera is greater than a height from a top surface of a lens of the second camera to a bottom surface of the second camera. One end of the first camera away from the lens is provided with a first printed circuit board, and the first printed circuit board extends to an outside of the first camera and faces the second camera. The OIS chip is disposed on the first printed circuit board and faces the bottom surface of the second camera; the OIS chip is electrically connected to the first printed circuit board.