A portable electronic device with a projection function includes a host, a display unit, a bracket, and a projection module. The display unit is pivoted to the host and has a back cover. The bracket is pivoted to the back cover. The projection module is pivoted to the bracket for outputting an image light beam along a projection direction. A pivot angle formed by the projection direction and the back cover can be adjusted by the pivot of the bracket relative to the back cover, and an elevation angle formed by the projection direction and the back cover can be adjusted by the pivot of the projection module relative to the bracket.