A projection apparatus including an illumination system, a reflective light valve, an imaging system, a loop heat pipe and a heat sink is provided. The illumination system is capable of providing a light beam and the reflective light valve is disposed on the transmission path of the light beam to convert the light beam into an image. The loop heat pipe includes an evaporator, a wick structure, at least a connecting pipe and working fluid. The evaporator includes a fluid backflow end and a vapor exhaust end, and the outer surface of the evaporator is connected to the reflective light valve. A wick structure is disposed inside the evaporator and connected with the fluid backflow end. The connecting pipe is connected between the fluid backflow end and the vapor exhaust end. The working fluid is located in the connecting pipe and the wick structure.