A light source module includes a light-emitting device emitting an excitation light beam, a reflective component including a reflective surface with a first focal point and a second focal point, a wavelength conversion device including a plurality of excited regions and disposed nearby the first focal point and on the transmission path of the excitation light beam, and an optical component. By rotating the wavelength conversion device, the excitation light beam irradiates the different excited regions at different time, so that the excitation light beam is converted into different wavelength light beams at different time, and the different wavelength light beams respectively correspond to the excited regions and are reflected by the reflective surface and converged at the second focal point. The optical component is disposed nearby the second focal point so the different wavelength light beams pass through the second focal point and are transmitted to the optical component.