An illumination module includes a light source, a supporting element, a guiding tube and an airflow generator. The supporting element is fixed relative to the light source. The guiding tube is pivoted to the supporting element and adjacent to the light source. The guiding tube is capable of moving between a first position and a second position relative to the light source. The airflow generator has an airflow outlet and is capable of generating an airflow. The airflow outlet is adjacent to the guiding tube. The airflow flows into the light source through the guiding tube. The invention also provides a projector with the illumination module.