A water cooling apparatus and a water purifier having a water cooling apparatus is provided. The water cooling apparatus may include a case, a water tank provided within the case, a cooling block provided to be in contact with the water tank and to cool the water tank through heat exchange, a thermoelectric element having one side in contact with the cooling block and provided so as to transfer heat from the one side to another side of the thermoelectric element when power is applied thereto, an insulator provided within the case and that covers the water tank and the cooling block, and a heat dissipation block provided outside of the case and provided to be in contact with the other side of the thermoelectric element to dissipate heat from the other side of the thermoelectric element.