An adjusting module and a projector are provided. The adjusting module includes a frame, an optical assembly, an elastic assembly and an adjusting member. The optical assembly is fixed to the elastic assembly. The elastic assembly is detachably assembled on the frame, and includes a fixing portion, a first elastic portion and a second elastic portion. The fixing portion is fixed to the optical assembly. The first and second elastic portions respectively include first and second hooks and first and second elastic arms. The first and second elastic arms are respectively connected to the fixing portion, and the first and second hooks are respectively assembled to the frame. The adjusting member penetrates through the through hole and leans against the optical assembly. When the adjusting member is adjusted, the optical assembly is displaced relative to the frame in a plane perpendicular to an incident optical axis.