An exemplary embodiment provides a tracking-type window blind apparatus using solar modules. The window blind apparatus includes a plurality of sunshades which are separated from each other by a predetermined distance and adjust a light transmission amount; solar modules which are respectively attached to the plurality of sunshades and generating power by using solar light; a driver which is connected with the plurality of sunshades to adjust an inclination angle of each sunshade and a distance between the sunshades; and a controller which sets one of operation modes among a power generation mode, a privacy protection mode, and a lighting mode according to a user's command, and controls the inclination of each sunshade and the distance between the sunshades according to the set operation mode, a current season and time, and a solar altitude angle.