A light valve projection apparatus includes a light source, a light valve used for forming optical images in response to a change in light scattering conditions in the light valve of light irradiated from the light source, a projection lens for projecting the optical images on a screen, and a shield for shielding the optical images formed at or near a pupil of the projection lens. If the brightness of light exiting from the light valve, which is in a light scattering state, in a direction tilted by .theta. degrees from a normal dissection of the light valve is assumed to be half as bright as the light outgoing in the normal direction at .theta..sub.1/2, .theta..sub.1/2 of the light valve is less than 23.degree.. The light valve may be a polymer dispersion liquid crystal display panel. When the polymer dispersion liquid crystal display panel is in a transparent state, light transmitted through the liquid crystal display panel is shielded by the shield, thus showing a black display on a screen. When the polymer dispersion liquid crystal display panel is in a light scattering state, light is scattered by the panel so that images formed in the panel are enlarged and projected by way of the projection lens onto the screen, thereby showing a bright white display.