The present invention discloses an EMI shielding and heat dissipating structure for dissipating heat generated by a chip inside a portable electronic device. The EMI shielding and heat dissipating structure includes an EMI shielding housing for shielding the chip. A first opening is formed on the EMI shielding housing. The EMI shielding and heat dissipating structure further includes a thermal pad disposed on the chip, and an EMI shielding gasket installed on the EMI shielding housing. A second opening is formed on the EMI shielding gasket and located in a position corresponding to the first opening. The EMI shielding and heat dissipating structure further includes a heat-dissipating component installed on the EMI shielding gasket and connected to the thermal pad for dissipating the heat transmitted from the thermal pad.