A hinge module is provided, including a first bracket, a guiding rod movably assembled to the first bracket, an elastic member connected between the first bracket and the guiding rod, a second bracket pivotally connected to the guiding rod, and a linking rod pivotally connected between the first and the second brackets. In a process of the first and the second brackets rotating relative to each other, the guiding rod moves relative to the first bracket to deform the elastic member. A portable electronic device is also provided.