A projection apparatus having a single reflective light valve is provided. The projection apparatus includes a non-telecentric illumination system, a movable projection lens and a reflective light valve. The non-telecentric illumination system includes a light source and a lens. The light source is suitable for providing a light beam and the lens is disposed on the transmission path of the light beam. The movable projection lens is disposed behind the lens on the transmission path of the light beam for projecting an image. An image projected from the projection apparatus has an offset between 100%˜150%. The reflective light valve is disposed between the lens and the movable projection lens on the transmission path of the light beam. The reflective light valve has rows of horizontally arranged pixels.