A light source device includes: a discharge lamp provided with two electrodes; a discharge lamp lighting section adapted to light the discharge lamp by supplying the discharge lamp with electrical power while alternately switching a polarity of one of the electrodes of the discharge lamp with respect to the other of the electrodes; and a time-division color separation section adapted to receive light emitted from the discharge lamp in a lighted state and sequentially emit light beams with colors different from each other, wherein the discharge lamp lighting section switches the polarity in sync with a change in the color of the light beam emitted from the time-division color separation section, and provides, as retentive periods in which a duty ratio, which is a ratio of a positive polarity period with the polarity kept positive to a period of the polarity switching, is retained at a constant value over a predetermined period of time, a first retentive period and a second retentive period different in the duty ratio from the first retentive period, thereby modulating the duty ratio.